Japanese Restaurant with Hibachi
For Sale
$1,800,000
843 Quarry Rd #140, Coralville, IA 52241
The offering combines an operating restaurant business with its commercial condominium and installed food-service equipment.
Property Size5,150 SF
Price / SF$349.51
Days on Market93
Property Features for 843 Quarry Rd #140
General Information
Standard status
Active
Size
5,150 SF
Property subtype
Commercial
Zoning
Commercial
Financials
Asking Price
$1,800,000
Business Included
Yes
Additional Details
Furnished
Yes
Equipment Included
Yes
Currently Operating
Yes
Taxes and HOA fees
Annual Taxes
$29,178
Building Details
Year Built
2006
Listing Agency:
Ambrose & Associates, REALTORS
(319) 354-8118
Listed By:
Tina Frantz
(319) 621-2180
Source:
Kalonarealty
Added: Jul 27
Changed: Oct 25
Last Checked: Oct 26 at 4:08AM
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 Ambrose & Associates, REALTORS
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Investment Insights
Based on property information with market context.
Konomi Japanese Restaurant and its real estate are offered together as an operating business and commercial condominium. The approximately 5,150-square-foot space was built in 2006 and is zoned Commercial. Its restaurant improvements include a dining room, sushi bar, hibachi tables, a full commercial kitchen and a bar, along with furniture, fixtures and equipment.
The property is at Iowa River Landing in Coralville, a mixed-use district with retail, restaurants, hotels, offices, entertainment and residential development. Parking is available in the district. The restaurant business and the underlying real estate are included in the offering.
The property is at Iowa River Landing in Coralville, a mixed-use district with retail, restaurants, hotels, offices, entertainment and residential development. Parking is available in the district. The restaurant business and the underlying real estate are included in the offering.
Key Highlights
- Operating Konomi Japanese Restaurant offered with the underlying real estate
- Approximately 5,150‑square‑foot commercial condominium
- Dining room, sushi bar, hibachi tables, full commercial kitchen and bar
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.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The offering combines an operating restaurant business with its commercial condominium and installed food-service equipment.
Where is this conventional restaurant located?
The property is located at 843 Quarry Rd #140 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: Operating Konomi Japanese Restaurant offered with the underlying real estate; Approximately 5,150‑square‑foot commercial condominium; Dining room, sushi bar, hibachi tables, full commercial kitchen and bar
