Restaurant Property with Hibachi
For Sale
$1,800,000
843 Quarry Rd, Coralville, IA 52241
CommercialSale, Coralville, IA
Property Size5,150 SF
Lot Size0.12 Acres
Price / SF$349.51
Days on Market93
Property Features for 843 Quarry Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Directions
1st Ave to Quarry Rd located in IRL S of Marriott
Subdivision
Coralville
Standard status
Active
APN
1005187001
Lot size
0.12 Acres
Tenancy & Operations
Currently Operating
Yes
Business Included
Yes
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
29178
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Building Details
Year built
2006
Flooring type
Carpet, Concrete
Building materials
Block, Brick
Listing Agency:
Ambrose & Associates, REALTORS
(319) 354-8118
Listed By:
Tina Frantz
(319) 621-2180
Added: Jul 27
Changed: Oct 24
Last Checked: Oct 27 at 4:06AM
MLS# 202604689
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.
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Investment Insights
Based on property information with market context.
This restaurant offering pairs the operating Konomi Japanese Restaurant business with its approximately 5,150-square-foot commercial condominium at 843 Quarry Rd in Coralville. The dining room includes a sushi bar and hibachi tables, alongside a full commercial kitchen, bar, and furniture, fixtures, and equipment. The building dates to 2006 and has block and brick construction, central air conditioning, and forced-air natural gas heat.
The property is within Iowa River Landing, a mixed-use district with retail, restaurants, hotels, offices, entertainment, and residential development. Ample parking is noted for the property.
The property is within Iowa River Landing, a mixed-use district with retail, restaurants, hotels, offices, entertainment, and residential development. Ample parking is noted for the property.
Key Highlights
- Restaurant business and commercial condominium offered together
- Approximately 5,150 square feet; built in 2006
- Dining room features a sushi bar and hibachi tables
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,745
Cap Rate
3.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,094,900
$1.1M
Cap Rate 7%
$782,071
$782.1K
Cap Rate 9%
$608,278
$608.3K
Market Conditions
NOI Build-Up for 5,150 SF
Gross rent
$79.7K $15.48/SF
− Vacancy
−$6.7K −$1.31/SF
EGI
$73.0K $14.17/SF
− OpEx
−$18.2K −$3.54/SF
NOI
$54.7K $10.63/SF
Area
Johnson County, IA
Vacancy
8.44%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,094,900
Cap Rate 7%
$782,071
Cap Rate 9%
$608,278
Alternative Uses
Best Use
Specialty Retail
$782.1K
$684.3K – $912.4K
NOI $54,745 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$978.9K – $1.31M
NOI $78,313 @ 7.0% cap · market cap 4.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
716
Businesses Nearby
203k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 30%
Hotels & Casinos 21%
Dining 20%
Shops & Services 15%
Trader Joe's
Groceries
61,018 visits/mo
0.3 miles
Kum & Go
Shops & Services
31,125 visits/mo
0.4 miles
Von Maur
Apparel
26,601 visits/mo
0.3 miles
Homewood Suites
Hotels & Casinos
24,821 visits/mo
0.2 miles
McDonald's
Dining
20,527 visits/mo
0.4 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
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The offering combines an operating dining business, its commercial condominium, and existing kitchen and dining equipment.
Where is this conventional restaurant located?
The property is located at 843 Quarry Rd Coralville, IA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Restaurant business and commercial condominium offered together; Approximately 5,150 square feet; built in 2006; Dining room features a sushi bar and hibachi tables
