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    2500 Heinz Rd Iowa City, IA 52240

    For Sale
    $35,000,000

    Iowa City Distribution Center: Prime Location

    Property size:
    346,062 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional Class A industrial property, a 346,062-square-foot distribution center, sits on a 37.49-acre lot in Iowa City, IA. Currently 100% occupied by Amazon under a Net Lease agreement with a credit-rated corporate guarantee, the property boasts a 6.77% cap rate and a substantial NOI of $2,335,918. The lease, originally commencing October 24, 2019, has a remaining term of 5.4 years, with two 5-year renewal options at market rent, and includes annual 3% rent bumps. Built in 1971 and extensively renovated in 2019/2020, the building features 40 dock-high doors and a 28-foot ceiling height. Ample parking is provided with 840 spaces accommodating employee vehicles and delivery trucks. The property's strategic location serves the combined Cedar Rapids and Iowa City metro areas, totaling 451,000 residents, benefiting from a robust and diverse economy fueled by major industries and recent significant investments from companies like Google, Sub-Zero, and FedEx Ground. The proximity to the University of Iowa further enhances the location's appeal. This investment opportunity presents a strong, stable income stream with significant long-term growth potential, given Amazon's continued expansion and the area's economic vitality. The asking price is $35,000,000.

    Property Features for 2500 Heinz Rd

    General Information

    Property type
    Distribution properties
    Square Feet
    346,062 SF
    Class
    A
    Lot Size
    1,633,064 SF

    Building Details

    Year Built/Renovated
    1971/2019

    HighLights

    • Amazon's S&P AA- credit rating.
    • Largest Amazon delivery station in Iowa.
    • 840 parking spaces for cars and delivery vans.
    • Significant shipment growth due to Amazon's same‑day and next‑day delivery services.
    • Operational expansion potential within the building.
    • Potential for building and/or parking expansion on‑site.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Recruiting vinyl Warehouse Amazon DIA4 and HCI1 ... Warehouse

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hotel & Motel Gym & Fitness Pharmacy Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Iowa City
    County
    Johnson
    State
    Iowa
    Longitude
    -91.4883236
    Latitude
    41.6327723

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    FAQs

    What type of property is this?
    Distribution property - Iowa City Distribution Center: Prime Location
    Where is this distribution property located?
    The property is located at 2500 Heinz Rd Iowa City, IA.
    What is the asking price?
    The asking price for this property is $35,000,000.
    What are key features of this property?
    This property features: Amazon's S&P AA- credit rating.; Largest Amazon delivery station in Iowa.; 840 parking spaces for cars and delivery vans.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2500 Heinz Rd Iowa City, IA 52240
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