Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    220 Westcor Dr Coralville, IA 52241
    Back to Search
    Property profile & analytics

    220 Westcor Dr Coralville, IA 52241

    View on Map
    • Land
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 220 Westcor Dr

    Property type
    Land

    Description

    This exceptional commercial pad site boasts high visibility from Interstate 80, offering unparalleled exposure for businesses. Located at 220 Westcor Dr, Coralville, IA 52241, this property presents a unique opportunity in Johnson County's thriving commercial sector. The land is priced at $1,515,888, translating to a land value of $4 per square foot. Its strategic location places it in close proximity to Coral Ridge Mall and a multitude of restaurants and retail establishments, ensuring high traffic and customer accessibility. The site is designated as Corridor Commercial within Coralville's West Land Use Area Plan, ideal for retail uses situated along collector and arterial streets. Development will require City of Coralville approval of Planned Unit Development (PUD) subdivision plans, which must align with the West Land Use Area Plan. Prospective buyers should anticipate impact fees of approximately $25,000 per acre upon final platting. This is a remarkable opportunity to establish a thriving business in a high-demand location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Coralville
    County
    Johnson
    State
    Iowa
    Longitude
    -91.6284
    Latitude
    41.6962

    Comparable in this City

    • Value Estimation by Request
      7.80 Acres

      3721 2Nd St

      Land • 7.80 Acres
      3721 2Nd St, Coralville, IA 52241
      View Details
    • Value Estimation by Request
      2.05 Acres

      125 Westcor Dr

      Land • 2.05 Acres
      125 Westcor Dr, Coralville, IA 52241
      View Details
    • Value Estimation by Request
      12.94 Acres

      Westcor Ct

      Land • 12.94 Acres
      0 Westcor Ct, Coralville, IA 52241
      View Details
    • Value Estimation by Request
      2.06 Acres

      Crosspark Rd

      Land • 2.06 Acres
      0 Crosspark Rd, Coralville, IA 52241
      View Details
    • Value Estimation by Request
      1.51 Acres

      2 Dovetail Est

      Land • 1.51 Acres
      2 Dovetail Est, Coralville, IA 52241
      View Details
    • Value Estimation by Request
      1.85 Acres

      Lucas Ave

      Land • 1.85 Acres
      0 Lucas Ave, Coralville, IA 52241
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1 SF

      Land Available for Sale

      Land for sale at 310 2nd Ave, Coralville, IA
      310 2Nd Ave, Coralville, IA 52241
      View Details
    • Contact for pricing

      Coralville Development Land Opportunity

      100 acres of hilltop development land in Coralville, Iowa.
      100 Vintage Blvd, Coralville, IA 52241
      View Details
    • Contact for pricing
      0.68 Acres

      Coralville Commercial Land Opportunity

      0.68-acre lot, prime commercial location.
      939 25Th Ave, Coralville, IA 52241
      View Details
    • Contact for pricing

      Coralville Commercial Unit Available

      Prime Coralville location, ideal for business.
      1303 5Th St, Coralville, IA 52241
      View Details
    • $210,000
      0.41 Acres

      Residential Land in Coralville, Iowa

      Residential land available in Coralville, Iowa, lot 9.
      463 Rebekah Ct, Coralville, IA 52241
      View Details
    • $2,550,000
      2.93 Acres

      Coralville Commercial Land For Sale

      2.93 acres of C2 property with I-80 frontage.
      2830 Commerce Dr, Coralville, IA 52241
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Land Near Interstate 80

      0.49 acres available for build to suit near I-80.
      100 Westcor Dr, Coralville, IA 52241
      View Details
    • $15 SF/Yr
      2,400 SF

      Prime Coralville Executive Office Suite

      2,400 SF Office, Sublease Available
      1100 6Th St, Coralville, IA 52241
      View Details
    • $15 SF/Yr
      101,059 SF

      Coralville Office Space For Rent

      Second floor office space in prime Coralville location.
      327 2Nd St, Coralville, IA 52241
      View Details
    • $15 SF/Yr
      101,059 SF

      Coralville Office Space For Rent

      Second floor office space with views in prime Coralville location.
      327 2Nd St, Coralville, IA 52241
      View Details
    • Contact for pricing

      Retail Endcap Suite For Rent

      Endcap suite in a retail strip center, former Subway location.
      2425 2Nd St, Coralville, IA 52241
      View Details
    • Contact for pricing
      Pending

      Warehouse Space Near Coralville Strip

      Warehouse space available in a convenient Coralville location.
      2000 James St, Coralville, IA 52241
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    220 Westcor Dr
    Coralville, IA 52241
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    220 Westcor Dr, Coralville, IA, 52241
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!