Brick Office and Attached
408 Highland Ct Iowa City, IA 52240
408 Highland Ct, Iowa City, IA, 52240
$1,200,000
For Sale
$1,200,000
Brick office building with an attached warehouse featuring an oversized garage door, multiple restrooms, and a break room.
Property Size8,420 SF
Price / SF$142.52
Days on Market121
Property Features for 408 Highland Ct
General Information
- Standard status
- Active
- Size
- 8,420 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1966
Listing Agency
KALONA REALTY, INC.
(319) 981-2889
Listed by
Nicki Kramer
(319) 981-2889
Source
Pinnaclerealtyia
Added: Mar 23 Updated: Jul 20 at 5:27 pm Checked: Jul 20 at 5:27 pm
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KALONA REALTY, INC.
Investment Insights
Based on property information with market context.
This brick office building is connected to an attached warehouse, creating flexible indoor space suited to office, showroom, storage, or other adaptable uses. The warehouse includes an oversized garage/drive-in door intended to support straightforward loading and unloading. Inside the office portion, the property offers multiple restrooms and a dedicated break room.
The building is located near downtown Iowa City at 408 Highland Ct, with convenient access for day-to-day operations. The property previously had long-term tenancy by a printing company, and the current layout includes built-in infrastructure that may support light industrial or production-oriented activity.
Overall, the site provides a practical mix of office amenities and warehouse functionality, with the option to be occupied as-is or renovated for a new configuration.
The building is located near downtown Iowa City at 408 Highland Ct, with convenient access for day-to-day operations. The property previously had long-term tenancy by a printing company, and the current layout includes built-in infrastructure that may support light industrial or production-oriented activity.
Overall, the site provides a practical mix of office amenities and warehouse functionality, with the option to be occupied as-is or renovated for a new configuration.
Key Highlights
- Brick office building with attached warehouse and connected workspace
- Oversized garage/drive‑in door for loading and unloading
- Multiple restrooms and a dedicated break room
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $151.6k | $18.00 |
| − Vacancy | −$22.7k | −$2.70 |
| EGI | $128.8k | $15.30 |
| − OpEx | −$32.2k | −$3.82 |
| NOI | $96.6k | $11.48 |
8,420 SF · lease $18.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.38M
$1.21M – $1.61M
NOI $96,620 @ 7.0% cap · market cap 8.05%
Second Best
Warehouse
$937.4K
$820.2K – $1.09M
NOI $65,615 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $128,038 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Goodfellow Printing Inc
Marketing & Advertising
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FAQs
What type of property is this?
Flex space - Brick office building with an attached warehouse featuring an oversized garage door, multiple restrooms, and a break room.
Where is this flex space located?
The property is located at 408 Highland Ct Iowa City, IA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Brick office building with attached warehouse and connected workspace; Oversized garage/drive‑in door for loading and unloading; Multiple restrooms and a dedicated break room
