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    North Liberty Office Building For Sale Title is generated by Realmo AI

    1 Quail Crk Cir, North Liberty, IA 52317

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    17,427 SF office building on 2.67 acres for sale.

    Type:Land, Office
    Property size:
    17,427 SF
    Lot size:
    2.67 Acres
    Price / SF:
    $137/SF
    Added:
    Jun 29, 2023
    Days on Market:
    1073
    Last Refresh:
    May 12 at 8:50 pm

    Property Features for 1 Quail Crk Cir

    General Information

    Standard status
    Active
    Size
    17,427 SF
    Lot size
    2.67 Acres
    Property subtype
    Land, Office

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    Listing Contact
    Mark Lynch

    Listing agent Mark Lynch License #IA S60565000

    Listing office Skogman Commercial Group Iowa City

    Listing date Jun 29, 2023

    Source Crexi

    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 Skogman Commercial Group Iowa City

    HighLights

    • Large 17,427 SF building on a 2.67‑acre lot.
    • Sale price of $2,400,000, which is $137 PSF, below replacement value.
    • Opportunity to rezone and redevelop the lot into a multi‑family development (up to 100 units).
    • Option to lease one of three suites: 5,833 SF, 7,191 SF, or 4,400 SF.
    • Lease rate of $25 PSF with a full‑service lease.
    • Each suite includes numerous offices, restrooms, conference rooms, kitchenettes, reception area, and cubicles.

    Overview

    This 17,427 square foot building situated on a 2.67 acre lot is available for sale at $2,400,000. The property is also available for lease, with three suites: Suite 1 offers 5,833 square feet, Suite 2 provides 7,191 square feet, and Suite 3 encompasses 4,400 square feet. Each office suite includes multiple offices, restrooms, conference rooms, kitchenettes, a reception area, and cubicles. The suites are available for lease at $25 per square foot under a full-service lease, which covers taxes, insurance, common area maintenance, and utilities. The 2.67 acre lot can be re-zoned and redeveloped into a multi-family development with up to 100 units.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $313.7k $18.00
    − Vacancy −$47.1k −$2.70
    EGI $266.6k $15.30
    − OpEx −$66.7k −$3.82
    NOI $200.0k $11.48
    17,427 SF · lease $18.00/SF/yr · vacancy 15.00% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $2.86M
    $2.50M – $3.33M (±1% cap)
    NOI $199,975 @ 7.0% cap · market cap 8.33%
    Second Best
    no second resolved use
    Theoretical Best
    Office A
    $3.79M
    $3.31M – $4.42M (±1% cap)
    NOI $265,002 @ 7.0% cap · market cap 11.04%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    North Liberty
    County
    Johnson
    State
    Iowa
    Longitude
    -91.608271
    Latitude
    41.7347426

    FAQs

    What type of property is this?
    Office building - 17,427 SF office building on 2.67 acres for sale.
    Where is this office building located?
    The property is located at 1 Quail Crk Cir North Liberty, IA.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: Large 17,427 SF building on a 2.67‑acre lot.; Sale price of $2,400,000, which is $137 PSF, below replacement value.; Opportunity to rezone and redevelop the lot into a multi‑family development (up to 100 units).
    More about this property
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