Brewery Restaurant with
For Sale
Contact for pricing
903 Quarry Road, Coralville, IA 52241
Former brewery space includes a restaurant and taproom with an outdoor patio and rear dock-high loading door.
Property Size14,835 SF
Price / SF$195.48
Days on Market48
Property Features for 903 Quarry Road
General Information
Standard status
Active
Size
14,835 SF
Property subtype
Retail, Mixed Use
Zoning
CPUD2
Additional Details
Dock-High Doors
1
Building Details
Year Built
2012
Buildings
1
Listing Agency:
Lepic-Kroeger, REALTORS
(319) 331-6187
Listed By:
Jeff Edberg · License #IA B33730000
Source:
Crexi
Added: Jul 9
Changed: Aug 15
Last Checked: Aug 24 at 7:16AM
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 Lepic-Kroeger, REALTORS
Investment Insights
Based on property information with market context.
This sale opportunity features nearly 15,000 SF originally designed as a full-scale brewery, with the interior configured to include approximately 2,500 SF as a restaurant and taproom. The property is complemented by a large outdoor patio adjacent to the Hyatt Regency Coralville Hotel & Conference Center, supporting guest seating and destination-style use. A rear dock-high loading door provides loading access for operations.
The property is located in Iowa River Landing in Coralville, a mixed-use destination anchored by Xtream Arena, University of Iowa Health Care clinical facilities, major hotels, offices, and national retailers including Von Maur, Lululemon, J.Jill, Ethan Allen, Active Endeavors, and Trader Joe’s. Convenient public parking is available in the City parking ramp immediately to the east.
In addition, an approximately 0.35-acre parcel directly north of the building may be available, offering potential for expansion, surface parking, or outdoor amenities.
The property is located in Iowa River Landing in Coralville, a mixed-use destination anchored by Xtream Arena, University of Iowa Health Care clinical facilities, major hotels, offices, and national retailers including Von Maur, Lululemon, J.Jill, Ethan Allen, Active Endeavors, and Trader Joe’s. Convenient public parking is available in the City parking ramp immediately to the east.
In addition, an approximately 0.35-acre parcel directly north of the building may be available, offering potential for expansion, surface parking, or outdoor amenities.
Key Highlights
- Nearly 15,000 SF former brewery built in 2012, located in Iowa River Landing mixed‑use development
- Approx. 2,500 SF configured as a restaurant and taproom
- Large outdoor patio adjacent to Hyatt Regency Coralville Hotel & Conference Center
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$157,698
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,153,960
$3.2M
Cap Rate 7%
$2,252,829
$2.3M
Cap Rate 9%
$1,752,200
$1.8M
Market Conditions
NOI Build-Up for 14,835 SF
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.
Gross rent
$229.6K $15.48/SF
− Vacancy
−$19.4K −$1.31/SF
EGI
$210.3K $14.17/SF
− OpEx
−$52.6K −$3.54/SF
NOI
$157.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,153,960
Cap Rate 7%
$2,252,829
Cap Rate 9%
$1,752,200
Alternative Uses
Best Use
Specialty Retail
$2.25M
$1.97M – $2.63M
NOI $157,698 @ 7.0% cap · market cap 5.44%
Second Best
Industrial
$1.27M
$1.11M – $1.48M
NOI $88,787 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$3.22M
$2.82M – $3.76M
NOI $225,587 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
Location Intelligence
Trade Area within ½ mile
622
Businesses Nearby
Explore this area
Business Placement
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 Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Brewery - Former brewery space includes a restaurant and taproom with an outdoor patio and rear dock-high loading door.
Where is this brewery located?
The property is located at 903 Quarry Road Coralville, IA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Nearly 15,000 SF former brewery built in 2012, located in Iowa River Landing mixed‑use development; Approx. 2,500 SF configured as a restaurant and taproom; Large outdoor patio adjacent to Hyatt Regency Coralville Hotel & Conference Center
