Flexible-Use Retail
New
For Lease
$8 SF/Yr
702 S Gilbert, Iowa City, IA 52240
CommercialLease, IowaCity, IA
Space Size1,500 SF
Lot Size0.03 Acres
Days on Market2
Property Features for 702 S Gilbert
General Information
Property type
Commercial Lease
Property subtype
Other
Zoning
C
Directions
From Downtown Iowa City, take S. Gilbert Street south. Continue south past the downtown area to 702 S. Gilbert St. The property is on the west side of S. Gilbert Street, with parking available on-site.
Subdivision
IowaCity
Standard status
Active
APN
1015155001
Lot size
0.03 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3
Utilities
Heating system
Electric (Heating), Natural Gas
Cooling system
Central Air
Building Details
Year built
1993
Flooring type
Carpet
Building materials
Brick
Roof type
Wood
Listing Agency:
Lepic-Kroeger, REALTORS
(319) 351-8811
Listed By:
Zach Hammes
(319) 631-5261
Added: Oct 1
Last Checked: Oct 2 at 6:06AM
MLS# 202605832
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.
At 702 S Gilbert in downtown Iowa City, this 1,500-square-foot retail space has a flexible layout that can accommodate retail, office, medical office, or other professional uses. The building dates to 1993 and has brick construction, carpet flooring, and central air conditioning. Heating is listed as electric and natural gas, and parking is available.
The property is zoned C and is located in Iowa City, Iowa.
The property is zoned C and is located in Iowa City, Iowa.
Key Highlights
- 1,500‑square‑foot space in downtown Iowa City
- Retail, office, medical office, and other professional uses are identified
- Zoned C; parking is available
Property Analytics
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Current Use
Lease Details
NNN (Triple Net)
Lease Type
$1.20 /SF/Yr
CAM
Location Intelligence
Trade Area within ½ mile
1,980
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
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Market
Lease Benchmarks for Iowa City, IA
$24.86 /SF/Yr
Avg Asking Price
$10.72–$38.84 /SF/Yr
Price Range
3,425 SF
Avg Space Size
This space is priced 68% below the average of $24.86 /SF/Yr.
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Central air and available parking complement a commercial layout suited to several professional uses.
Where is this retail space located?
The property is located at 702 S Gilbert Iowa City, IA.
What is the lease rate?
The lease rate is $8 SF/Yr.
What are key features of this property?
This property features: 1,500‑square‑foot space in downtown Iowa City; Retail, office, medical office, and other professional uses are identified; Zoned C; parking is available
