Retail Development Site with Existing
For Sale
$640,000
711 2nd St, Coralville, IA 52241
Commercial land includes an existing building on a 0.46-acre site with high daily traffic along the Coralville Strip.
Property Size4,640 SF
Lot Size0.46 Acres
Price / SF$137.93
Days on Market141
Property Features for 711 2nd St
General Information
Standard status
Active
Size
4,640 SF
Lot size
0.46 Acres
Property subtype
Commercial
Zoning
C2
Additional Details
Traffic Count
24,000 vehicles/day
Taxes and HOA fees
Annual Taxes
$11,896
Amenities
Other
70X270
0.46
CountyRoad
Building Details
Year Built
1985
Listing Agency:
AWRE - Commercial & Development
(319) 393-0900
Listed By:
Katie Sisson
(641) 990-7932
Source:
Pinnaclerealtyia
Added: Jun 5
Changed: Oct 15
Last Checked: Oct 20 at 7:09PM
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 AWRE - Commercial & Development
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This for-sale commercial site at 711 2nd St in Coralville includes an existing building that can be rehabbed, or the property can be redeveloped. The offering is described as a great 0.46-acre site on the Coralville Strip.
The property also has the option to expand, as there is another contiguous 2.7 acres to the east that can be added to the site. The Coralville Strip is noted for one of the highest traffic counts in the market, with 24,000 vehicles per day.
The seller is offering the combined opportunity of working with the existing structure or pursuing new development, with room to consider an acreage expansion depending on the project needs.
The property also has the option to expand, as there is another contiguous 2.7 acres to the east that can be added to the site. The Coralville Strip is noted for one of the highest traffic counts in the market, with 24,000 vehicles per day.
The seller is offering the combined opportunity of working with the existing structure or pursuing new development, with room to consider an acreage expansion depending on the project needs.
Key Highlights
- 0.46‑acre commercial site (70' x 270') on County Road with an existing building on the property
- Built in 1985; building on‑site can be rehabbed or used as part of a new development
- High daily traffic location with 24,000 vehicles per day on the Coralville Strip
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,965
Cap Rate
6.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$879,300
$879.3K
Cap Rate 7%
$628,071
$628.1K
Cap Rate 9%
$488,500
$488.5K
Market Conditions
NOI Build-Up for 4,640 SF
Gross rent
$66.8K $14.40/SF
− Vacancy
−$4.0K −$0.86/SF
EGI
$62.8K $13.54/SF
− OpEx
−$18.8K −$4.06/SF
NOI
$44.0K $9.48/SF
Area
Johnson County, IA
Vacancy
6.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$879,300
Cap Rate 7%
$628,071
Cap Rate 9%
$488,500
Alternative Uses
Best Use
Retail
$628.1K
$549.6K – $732.8K
NOI $43,965 @ 7.0% cap · market cap 6.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$882.0K – $1.18M
NOI $70,558 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
24,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
902
Businesses Nearby
72k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Dining 40%
Beauty & Spa 3%
Kum & Go
Shops & Services
20,963 visits/mo
0.5 miles
Dunkin' Donuts
Dining
11,554 visits/mo
0.2 miles
BP
Shops & Services
10,326 visits/mo
0.5 miles
Burger King
Dining
8,808 visits/mo
0.5 miles
Applebee's
Dining
8,269 visits/mo
0.3 miles
Demographics for 52241, IA
22,319
Population
10,294
Households
2.2
Avg Household Size
34
Median Age
57%
College-Educated
95%
High-School Grad
13.5 sq mi
ZIP Area
1,653
Density / Sq Mi
$66,508
Median Household Income
$40,504
Median Earnings
$1,021
Median Rent
$286,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Every Bloomin' Thing — 418 10th Ave, Coralville, IA 52241
Frequently Asked Questions
What type of property is this?
Storefront property - Commercial land includes an existing building on a 0.46-acre site with high daily traffic along the Coralville Strip.
Where is this storefront property located?
The property is located at 711 2nd St Coralville, IA.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: 0.46‑acre commercial site (70' x 270') on County Road with an existing building on the property; Built in 1985; building on‑site can be rehabbed or used as part of a new development; High daily traffic location with 24,000 vehicles per day on the Coralville Strip
