Building Details

Year built 2006

Flooring type Carpet, Concrete

Building materials Block, Brick

Listing Agency: Ambrose & Associates, REALTORS c***@ambroseboyd.com Show Phone

Listed By: Tina Frantz Show Phone

Added: Oct 30 Last Checked: Oct 30 at 8:06PM

Report an Issue

MLS# 202606360

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.

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This restaurant-use commercial condominium contains approximately 5,150 square feet and is occupied by Konomi Japanese Restaurant. Built in 2006, the property has block and brick construction, carpet and concrete flooring, natural gas forced-air heat, and central air conditioning. Zoning is Commercial.

Located in Coralville’s Iowa River Landing district, the property is near Interstate 80 and has nearby parking. The surrounding development includes retail, dining, hotels, offices, entertainment, and residential properties.

Key Highlights

• Approximately 5,150 square feet of commercial condominium space
• Occupied by Konomi Japanese Restaurant
• Located in Coralville’s Iowa River Landing district, near Interstate 80

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$54,745

Cap Rate

5.48%

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

Is this asking price fair?

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 (±1% cap)

NOI $54,745 @ 7.0% cap · market cap 5.48%

Second Best

Retail

$697.1K

$610.0K – $813.3K (±1% cap)

NOI $48,797 @ 7.0% cap · market cap 4.88%

Theoretical Best

Office A

$1.12M

$978.9K – $1.31M (±1% cap)

NOI $78,313 @ 7.0% cap · market cap 7.83%

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

Conventional restaurants

Suggested Use

Top Pick Building Supply Dental Office HVAC Service Big Box & Wholesale Store Storage Facility Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Yes

Highway access

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

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Similar For Sale Nearby

See more

Japanese Restaurant Commercial Condominium

140-843 Quarry Rd, Coralville, IA 52241

$1,800,000

5,150 SF

View details

Retail Development Site with Existing Building

711 2nd St, Coralville, IA 52241

$640,000

4,640 SF

View details

Brewery with Restaurant and Patio

903 Quarry Rd, Coralville, IA 52241

$2,900,000

0.81 Acres

View details

Office Suite with Atrium Lobby

2000 James St, Coralville, IA 52241

$495,000

5,300 SF

View details

Multifamily Portfolio with Duplex

805/807 20th Ave, Coralville, IA 52241

$520,000

3,332 SF

View details

Flex Office and Warehouse Parcels

302 2nd St, Coralville, IA 52241

$2,250,000

8,576 SF

View details

Geothermal Office Building

2425 Oakdale Blvd, Coralville, IA 52241

$2,250,000

10,187 SF

View details

Flex Space with Paint Booth

2460 10th st, Coralville, IA 52241

$440,000

2,500 SF

View details

First-Floor Office Suite

1100 6th Street B1, Coralville, IA 52241

$465,000

2,168 SF

View details

First-Floor Office Unit

B1-1100 6th St, Coralville, IA 52241

$465,000

2,168 SF

View details

First-Floor Office Condo Suites

327 2nd St., Coralville, IA 52241

$2,500,000

11,854 SF

View details

Redevelopment Flex Space Site

218 2nd St, Coralville, IA 52241

$2,500,000

23,144 SF

View details

Frequently Asked Questions

What type of property is this?

Conventional restaurant - The commercial condominium is occupied by Konomi Japanese Restaurant in Coralville’s Iowa River Landing district.

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 $999,900.

What are key features of this property?

This property features: Approximately 5,150 square feet of commercial condominium space; Occupied by Konomi Japanese Restaurant; Located in Coralville’s Iowa River Landing district, near Interstate 80