Retail Development Site with Existing
711 2nd St Coralville, IA 52241
711 2nd St, Coralville, IA, 52241
$640,000
For Sale
$640,000
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 Market47
Property Features for 711 2nd St
General Information
- Standard status
- Active
- Size
- 4,640 SF
- Lot size
- 0.46 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1985
Listing agency
SKOGMAN REALTY
(641) 990-7932
Listed by
Katie Sisson
(641) 990-7932
Source
Pinnaclerealtyia
Added: Jun 5 Updated: Jul 21 at 12:32AM Checked: Jul 21 at 3:21AM
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 SKOGMAN REALTY
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
Local Financial Insights For Retail
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 | $66.8k | $14.40 |
| − Vacancy | −$4.0k | −$0.86 |
| EGI | $62.8k | $13.54 |
| − OpEx | −$18.8k | −$4.06 |
| NOI | $44.0k | $9.48 |
4,640 SF · lease $14.40/SF/yr · vacancy 6.00% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
Similar Off Market Nearby
- Every Bloomin' Thing — 418 10th Ave, Coralville, IA 52241
FAQs
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
