Two-Suite Office
For Sale
$1,050,000
673 Westbury Dr #Ste 102 & 201, Iowa City, IA 52245
Elevator access, shared building entry, and off-street parking serve the office suites.
Property Size7,710 SF
Price / SF$193.23
Days on Market156
Property Features for 673 Westbury Dr #Ste 102 & 201
General Information
Standard status
Active
Size
7,710 SF
Total Parking Spaces
50
Elevators
Yes
Property subtype
Commercial
Zoning
CC2
Additional Details
Floor
1st and top floor
Highway Access
Yes
Office Units
2
Property Use
Office
Taxes and HOA fees
Annual Taxes
$38,494
Amenities
common entry
kitchenette
conference room
waiting area
ADA bathrooms
Elevator
Zero Step Entry
Building Details
Year Built
2007
Buildings
1
Building Size
7,710 SF
Tenancy
Multi
Listing Agency:
Lepic-Kroeger, REALTORS
(319) 351-8811
Listed By:
Jeff Edberg · License #B33730000
(319) 331-6187
Source:
Kalonarealty
Added: May 28
Changed: Oct 25
Last Checked: Oct 29 at 11:01PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The offering combines a 3,855-square-foot upper-level suite with a 1,579-square-foot first-floor suite in an office building constructed in 2007. The upper suite includes 11 private offices with windows, a kitchenette, conference room, waiting area, reception, and three ADA-compliant bathrooms. The lower suite has four large private windowed offices, reception, and two ADA-compliant bathrooms. Both spaces are in very good condition and use a common entrance served by an elevator.
The building has 50 off-street parking spaces and a total area of 7,710 square feet. A separate first-floor unit owned by James Investment Group is not included in the offering. The property is at Olde Towne Village, with visibility from Rochester Avenue and Herbert Hoover Highway, and is zoned CC2.
The building has 50 off-street parking spaces and a total area of 7,710 square feet. A separate first-floor unit owned by James Investment Group is not included in the offering. The property is at Olde Towne Village, with visibility from Rochester Avenue and Herbert Hoover Highway, and is zoned CC2.
Key Highlights
- Two suites: 3,855 SF upstairs and 1,579 SF on the first floor
- Upper level has 11 private windowed offices, kitchenette, conference room, waiting area, reception, and 3 ADA bathrooms
- First‑floor suite includes 4 large private windowed offices, reception, and 2 ADA bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,355
Cap Rate
5.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,247,100
$1.2M
Cap Rate 7%
$890,786
$890.8K
Cap Rate 9%
$692,833
$692.8K
Market Conditions
NOI Build-Up for 5,434 SF
Gross rent
$97.8K $18.00/SF
− Vacancy
−$14.7K −$2.70/SF
EGI
$83.1K $15.30/SF
− OpEx
−$20.8K −$3.82/SF
NOI
$62.4K $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 Rate 5%
$1,247,100
Cap Rate 7%
$890,786
Cap Rate 9%
$692,833
Alternative Uses
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 authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
221
Businesses Nearby
Explore this area
Business Placement
Demographics for 52245, IA
21,874
Population
10,210
Households
2.1
Avg Household Size
34
Median Age
68%
College-Educated
99%
High-School Grad
8.4 sq mi
ZIP Area
2,604
Density / Sq Mi
$75,876
Median Household Income
$30,273
Median Earnings
$1,215
Median Rent
$293,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Elevator access, shared building entry, and off-street parking serve the office suites.
Where is this office unit located?
The property is located at 673 Westbury Dr #Ste 102 & 201 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: Two suites: 3,855 SF upstairs and 1,579 SF on the first floor; Upper level has 11 private windowed offices, kitchenette, conference room, waiting area, reception, and 3 ADA bathrooms; First‑floor suite includes 4 large private windowed offices, reception, and 2 ADA bathrooms
