Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Herbert Hoover Hwy Iowa City, IA 52240
    Back to Search
    Property profile & analytics

    Herbert Hoover Hwy, Iowa City, IA 52240

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

    Current Use by Public Records

    • Land

    Property Details for 0 Herbert Hoover Hwy

    Lot size
    35.04 lot acres
    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional 35.04-acre property presents a unique investment opportunity in Iowa City, IA. Located on Herbert Hoover Hwy SE 2, this land boasts significant highway frontage and is zoned for Working Farm and Future Commercial uses, offering unparalleled development potential. The property's strategic location provides convenient access to the recently updated Interstate 80 and Herbert Hoover Highway interchange, experiencing over 55,000 Annual Average Daily Traffic (AADT). Surrounded by a mix of businesses, educational institutions, and residential areas, this site is ideally positioned for a variety of commercial ventures. While currently leased as farmland until September 1, 2024, the expansive acreage allows for ambitious projects, from sports complexes to retail developments, commercial condos, or storage facilities. The asking price is $1,225,000 ($35,000/acre). Potential buyers should conduct their due diligence and collaborate with the City of Iowa City and Johnson County to finalize development plans. Utilities will need to be extended to the site. Note that this sale does not include the property at 3610 Taft Ave, Iowa City, IA. Adjacent parcels (APN 0908201001, 0905351003, and 0905327003) are available for purchase as well. This is a prime opportunity to shape the future of Iowa City's commercial landscape. The APN for this specific parcel is 0908226001.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Iowa City
    County
    Johnson
    State
    Iowa
    Longitude
    -91.4533
    Latitude
    41.671

    Comparable in this City

    • Value Estimation by Request
      19.28 Acres

      Taft Ave

      Farms
      0 Taft Ave, Iowa City, IA 52240
      View Details
    • Value Estimation by Request
      33.74 Acres

      Herbert Hoover Hwy

      Farms
      0 Herbert Hoover Hwy, Iowa City, IA 52240
      View Details
    • Value Estimation by Request
      37.35 Acres

      Herbert Hoover Hwy

      Farms
      0 Herbert Hoover Hwy, Iowa City, IA 52240
      View Details
    • Value Estimation by Request
      19.30 Acres

      Village Dr

      Land
      0 Village Dr, Tiffin, IA 52240
      View Details
    • Value Estimation by Request
      2.05 Acres

      Iwv Commercial Park

      Land
      0 Iwv Commercial Park, Iowa City, IA 52240
      View Details
    • Value Estimation by Request
      293.29 Acres

      4960 Lower West Branch Rd

      Land
      4960 Lower West Branch Rd, Iowa City, IA 52240
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,532 SF

      Large Acreage Land Opportunity

      8.5 acres of land with development potential.
      3010 Sycamore St, Iowa City, IA 52240
      View Details
    • Contact for pricing
      Pending

      Amazon Distribution Building For Sale

      346,062 sq. ft. distribution building fully leased to Amazon.
      2500 Heinz Rd, Iowa City, IA 52240
      View Details
    • Contact for pricing
      13,395 SF

      Iowa City Commercial Condo Opportunity

      Flexible industrial/commercial condos in Iowa City with warehouse and office space.
      2485 Naples Ave SW, Iowa City, IA 52240
      View Details
    • $652,248
      10.30 Acres

      Shovel Ready Industrial Site

      10.3-acre certified industrial site, utilities on site.
      4748 SE 420Th St, Iowa City, IA 52240
      View Details
    • $2,500,000
      4.86 Acres

      Iowa City Commercial Land Available

      4.86 acre commercial land with high visibility.
      34 Escort Ln, Iowa City, IA 52240
      View Details
    • $405,761
      1.62 Acres

      Iowa City Commercial Land Available

      Ready-to-build commercial land with flexible zoning in Iowa City.
      2568 S Scott Blvd, Iowa City, IA 52240
      View Details

    Similar Nearby for Lease

    • $1,925 /Mo
      2,614 SF

      Iowa City Commercial Flex Space

      2400 SF flex space with highway frontage and parking.
      3305 Highway 1 SW, Iowa City, IA 52240
      View Details
    • $4 SF/Yr
      189,922 SF

      Shared Warehouse Space in IowaCity

      38,500 SF shared warehouse space for lease.
      2239 Heinz Rd, Iowa City, IA 52240
      View Details
    • Contact for pricing

      Iowa City Warehouse Space Available

      Up to 105,000 SF of warehouse space for lease.
      2630 Independence Rd, Iowa City, IA 52240
      View Details
    • $1.06 SF/Yr
      54,886 SF

      Iowa City Industrial Condo Opportunity

      Versatile industrial condos in Iowa City with flexible space options.
      2485 Naples Ave SW, Iowa City, IA 52240
      View Details
    • $1,925 /Mo
      2,614 SF

      Iowa City Commercial Flex Space

      2400 SF flex bay with office and warehouse space.
      3305 Highway 1 SW, Iowa City, IA 52240
      View Details
    • Contact for pricing
      54,886 SF

      Iowa City Industrial Condo

      Versatile industrial condo units in a growing Iowa City location.
      2485 5Th St, Iowa City, IA 52240
      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.
    Herbert Hoover Hwy
    Iowa City, IA 52240
    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
    Herbert Hoover Hwy, Iowa City, IA, 52240
    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!