First-Floor Office
For Sale
$465,000
B1-1100 6th St, Coralville, IA 52241
Leased office condominium with a practical multi-room layout and convenient ground-level entry.
Property Size2,168 SF
Price / SF$214.48
Days on Market146
Property Features for B1-1100 6th St
General Information
Standard status
Active
Size
2,168 SF
Occupancy
100%
Additional Details
Floor
First Floor
Taxes and HOA fees
Annual Taxes
$12,457
Building Details
Tenancy
Single
Listing Agency:
Lepic-Kroeger, Realtors
Listed By:
Akimi Oya
(319) 351-8811
Source:
Exprealty
Added: Apr 13
Changed: Sep 2
Last Checked: Sep 5 at 10:31AM
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 2,168-square-foot office unit occupies the first floor and is arranged for day-to-day professional use. The interior includes five private offices, a reception area, kitchenette, copier and storage room, and restroom, with direct entry from the building’s main entrance. Front-of-building parking is included.
A NNN tenant is in place through June 30, 2030, with renewal options. The property is located in central Coralville near shopping, dining, and everyday services. The building and grounds are maintained, providing a professionally presented setting for the existing tenancy.
A NNN tenant is in place through June 30, 2030, with renewal options. The property is located in central Coralville near shopping, dining, and everyday services. The building and grounds are maintained, providing a professionally presented setting for the existing tenancy.
Key Highlights
- 2,168 SF first‑floor office unit
- Five offices plus reception, kitchenette, copier/storage room, and restroom
- NNN tenancy in place through 6/30/2030
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
$24,878
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
5.35%
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%
$497,560
$497.6K
Cap Rate 7%
$355,400
$355.4K
Cap Rate 9%
$276,422
$276.4K
Market Conditions
NOI Build-Up for 2,168 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
$39.0K $18.00/SF
− Vacancy
−$5.9K −$2.70/SF
EGI
$33.2K $15.30/SF
− OpEx
−$8.3K −$3.82/SF
NOI
$24.9K $11.48/SF
Area
Johnson County, IA
Vacancy
15.00%
Lease Rate
$18.00 /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%
$497,560
Cap Rate 7%
$355,400
Cap Rate 9%
$276,422
Alternative Uses
Best Use
Office B
$355.4K
$311.0K – $414.6K
NOI $24,878 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$471.0K
$412.1K – $549.5K
NOI $32,967 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,162
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Leased office condominium with a practical multi-room layout and convenient ground-level entry.
Where is this office units located?
The property is located at B1-1100 6th St Coralville, IA.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: 2,168 SF first‑floor office unit; Five offices plus reception, kitchenette, copier/storage room, and restroom; NNN tenancy in place through 6/30/2030
