Eastside Office Suites For
673 Westbury Dr, Iowa City, IA 52245
Office suites with high visibility, ideal for owner-user.
Type:Office
Property size:
5,434 SFPrice / SF:
$193/SF- Added:
- Jan 26, 2026
- Days on Market:
- 120
- Last Refresh:
- Mar 17 at 1:14 pm
Property Features for 673 Westbury Dr
General Information
- Standard status
- Active
- Size
- 5,434 SF
- Property subtype
- Office
Building Details
- Year Built
- 2007
Listing agent Jeff Edberg License #IA B33730000
Listing office Iowa City Commercial Real Estate
Listing date Jan 26, 2026
Source Crexi
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 Iowa City Commercial Real Estate
HighLights
- High visibility location on Rochester Ave/Herbert Hoover Hwy.
- Combination of two well‑maintained suites totaling 5434 SF (3855 SF top floor + 1579 SF first floor).
- Potential for high CAP rate (over 11% at $12 NNN market rent).
- Ample parking with 50 off‑street spaces.
- Top floor suite features 11 private windowed offices, kitchenette, large conference room, waiting area, reception, and 3 ADA bathrooms.
- Elevator served building with common entry.
Overview
Located in Olde Towne Village, these eastside office suites offer high visibility from Rochester Ave/Herbert Hoover Hwy. The offering combines two well-maintained suites: a 3855-square-foot top-floor suite and a 1579-square-foot first-floor suite. The building, constructed in 2007, features a common entry and elevator service. The top floor includes 11 private windowed offices, a kitchenette, a large conference room, a waiting area, a reception area, and three ADA-compliant bathrooms. The first floor provides four large private windowed offices, a reception area, and two ADA-compliant bathrooms. The building has a total of 7,710 square feet and provides 50 off-street parking spaces. Note that a first-floor unit owned by James Investment Group is not included in this offering. The property is in very good condition and available at the end of February 2026. The property is ideal for an owner-user.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$692.8K
NOI $62,355 @ 9.00% cap · cautious / downside scenario
Moderate
$890.8K
NOI $62,355 @ 7.00% cap · market / base-case scenario
Aggressive
$1.25M
NOI $62,355 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $97.8k | $18.00 |
| − Vacancy | −$14.7k | −$2.70 |
| EGI | $83.1k | $15.30 |
| − OpEx | −$20.8k | −$3.82 |
| NOI | $62.4k | $11.48 |
5,434 SF · lease $18.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$890.8K
$779.4K – $1.04M
NOI $62,355 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,632 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
James Investment Group ...
Financial Advisor
Kaylee Lenz
Physician
Derrick Clark
Counselor
Sandra Kessler
Foster Care Service
Adam J Woods
Physician
Location Insight
- Map
- Local Demand
- City
- Iowa City
- County
- Johnson
- State
- Iowa
- Longitude
- -91.4800061
- Latitude
- 41.6690068
Nearby Similar for Sale
FAQs
What type of property is this?
Office units - Office suites with high visibility, ideal for owner-user.
Where is this office units located?
The property is located at 673 Westbury Dr Iowa City, IA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: High visibility location on Rochester Ave/Herbert Hoover Hwy.; Combination of two well‑maintained suites totaling 5434 SF (3855 SF top floor + 1579 SF first floor).; Potential for high CAP rate (over 11% at $12 NNN market rent).
