Three-Story Elevator Office
For Sale
$4,720,000
520 10th Ave, Coralville, IA 52241
Brick construction, elevator service, and C3 zoning are paired with a full interior build-out.
Property Size25,248 SF
Price / SF$186.95
Days on Market81
Property Features for 520 10th Ave
General Information
Standard status
Active
Size
25,248 SF
Building Details
Year Built
1996
Listing Agency:
Lepic-Kroeger, REALTORS
Listed By:
Jeff Edberg · License #B33730000
(319) 331-6187
Source:
Kwlegacyrealty
Added: Jul 25
Changed: Oct 12
Last Checked: Oct 7 at 2:17PM
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 Lepic-Kroeger, REALTORS
Investment Insights
Based on property information with market context.
This 25,248-square-foot office building has three stories, elevator access, brick construction, and a fully built-out interior. Each floor includes approximately 35-40 offices, exam rooms, and conference rooms, along with ADA bathrooms, storage, and service areas. The daylight lower level adds garden windows, walk-up exterior exits, and elevator access. Many office and exam rooms include hand sinks, and a two-story portico marks the main entrance. The building is vacant and offered for sale.
The property is located at 520 10th Ave in Coralville, Iowa, within the Town Square office, retail, and medical complex at the northeast corner of 6th Street and 10th Ave. A large shared off-street parking lot serves the development, with an elevated allocation of handicapped spaces near the front entrance. Constructed in 1996, the property is zoned C3.
The property is located at 520 10th Ave in Coralville, Iowa, within the Town Square office, retail, and medical complex at the northeast corner of 6th Street and 10th Ave. A large shared off-street parking lot serves the development, with an elevated allocation of handicapped spaces near the front entrance. Constructed in 1996, the property is zoned C3.
Key Highlights
- 25,248‑square‑foot, three‑story office building constructed in 1996
- Elevator access serves all levels, including the full‑daylight lower floor
- Approximately 35‑40 offices, exam rooms, and conference rooms on each floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$299,401
Cap Rate
6.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,988,020
$6.0M
Cap Rate 7%
$4,277,157
$4.3M
Cap Rate 9%
$3,326,678
$3.3M
Market Conditions
NOI Build-Up for 25,248 SF
Gross rent
$554.4K $21.96/SF
− Vacancy
−$55.4K −$2.20/SF
EGI
$499.0K $19.76/SF
− OpEx
−$199.6K −$7.91/SF
NOI
$299.4K $11.86/SF
Area
Johnson County, IA
Vacancy
10.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,988,020
Cap Rate 7%
$4,277,157
Cap Rate 9%
$3,326,678
Alternative Uses
Best Use
Healthcare Medical
$4.28M
$3.74M – $4.99M
NOI $299,401 @ 7.0% cap · market cap 6.34%
Second Best
Office B
$4.14M
$3.62M – $4.83M
NOI $289,721 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$5.48M
$4.80M – $6.40M
NOI $383,931 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
771
Businesses Nearby
Explore this area
Business Placement
Demographics for 52241, IA
22,319
Population
10,294
Households
2.2
Avg Household Size
34
Median Age
57%
College-Educated
95%
High-School Grad
13.5 sq mi
ZIP Area
1,653
Density / Sq Mi
$66,508
Median Household Income
$40,504
Median Earnings
$1,021
Median Rent
$286,000
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Brick construction, elevator service, and C3 zoning are paired with a full interior build-out.
Where is this office building located?
The property is located at 520 10th Ave Coralville, IA.
What is the asking price?
The asking price for this property is $4,720,000.
What are key features of this property?
This property features: 25,248‑square‑foot, three‑story office building constructed in 1996; Elevator access serves all levels, including the full‑daylight lower floor; Approximately 35‑40 offices, exam rooms, and conference rooms on each floor
