673 Westbury Dr Iowa City, IA 52245
COMMERCIAL - IowaCity, IA
Property Features for 673 Westbury Dr
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- CC2
- Interior features
- Elevator, ZeroStepEntry
- Accessibility
- Accessible Elevator Installed
- Standard status
- Active
- APN
- 0907235010-0907235011
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 38494
Utilities
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 2007
- Flooring type
- Tile, Carpet
- Building materials
- Brick, Frame
Listing agent Jeff Edberg License #IA B33730000 (319) 331-6187
Listing office Lepic-Kroeger, REALTORS 2346 MORMON TREK BLVD SUITE #2000, Iowa City, IA (319) 351-8811
Listing date May 28, 2026
Copyright © 2026 Iowa City Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The building has high visibility from Rochester Ave/Herbert Hoover Hwy. There are 50 off-street parking spaces serving the property, supporting day-to-day client and employee access.
This configuration is a practical fit for an owner-occupant or professional organization seeking consolidated space across two levels, with dedicated reception areas and multiple ADA restrooms on each floor. The current layout supports both private office use and meeting needs, with a common entry and elevator service simplifying movement between floors. A 1st floor unit owned by James Investment Group is not part of this offering.
Key Highlights
- Eastside office suites in Olde Towne Village, built in 2007 and elevator‑served with a common entry
- Combination of two suites: 3,855 SF on the top floor plus 1,579 SF on the 1st floor (total 7,710 SF building)
- Top floor includes 11 private windowed offices, kitchenette, large conference room, waiting area, reception, and 3 ADA bathrooms
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 | $138.8k | $18.00 |
| − Vacancy | −$20.8k | −$2.70 |
| EGI | $118.0k | $15.30 |
| − OpEx | −$29.5k | −$3.82 |
| NOI | $88.5k | $11.48 |
