Renovated Office
New
For Sale
$875,000
528 S Clinton St, Iowa City, IA 52240
Downtown office property with surface parking near the courthouse and campus.
Property Size2,709 SF
Price / SF$322
Days on Market3
Property Features for 528 S Clinton St
General Information
Standard status
Active
Size
2,709 SF
Property subtype
Commercial
Zoning
PRM
Taxes and HOA fees
Annual Taxes
$17,314
Amenities
Carpet
7500 Sq Ft
0.17
CountyRoad
Building Details
Year Built
1959
Listing Agency:
GLD Commercial Real Estate Advisors
(319) 213-1157
Listed By:
Lydia Fitzgerald
(319) 213-1157
Source:
Pinnaclerealtyia
Added: Aug 30
Changed: Aug 31
Last Checked: Sep 1 at 3:48PM
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 GLD Commercial Real Estate Advisors
Investment Insights
Based on property information with market context.
Renovated office property at 528 S Clinton St in Iowa City, with 2,709 of property size and carpeted interior finishes. The building was constructed in 1959 and is identified under PRM zoning. Surface parking is available on site. The property is positioned downtown, approximately one block south of the courthouse and close to campus.
Key Highlights
- Fully renovated downtown office property
- Surface parking available on site
- Approximately one block south of the courthouse
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,086
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$621,720
$621.7K
Cap Rate 7%
$444,086
$444.1K
Cap Rate 9%
$345,400
$345.4K
Market Conditions
NOI Build-Up for 2,709 SF
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.
Gross rent
$48.8K $18.00/SF
− Vacancy
−$7.3K −$2.70/SF
EGI
$41.4K $15.30/SF
− OpEx
−$10.4K −$3.82/SF
NOI
$31.1K $11.48/SF
Area
Johnson County, IA
Vacancy
15.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$621,720
Cap Rate 7%
$444,086
Cap Rate 9%
$345,400
Alternative Uses
Best Use
Office B
$444.1K
$388.6K – $518.1K
NOI $31,086 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$588.5K
$514.9K – $686.6K
NOI $41,194 @ 7.0% cap · market cap 4.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,445
Businesses Nearby
Explore this area
Business Placement
Demographics for 52240, IA
34,224
Population
17,035
Households
2
Avg Household Size
29
Median Age
47%
College-Educated
94%
High-School Grad
142.1 sq mi
ZIP Area
241
Density / Sq Mi
$55,189
Median Household Income
$25,508
Median Earnings
$1,065
Median Rent
$241,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Downtown office property with surface parking near the courthouse and campus.
Where is this office building located?
The property is located at 528 S Clinton St Iowa City, IA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Fully renovated downtown office property; Surface parking available on site; Approximately one block south of the courthouse
