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Financial
Distress signals
Property profile

640 Hwy 1st W Iowa City, IA 52246

OFF-MARKET
Other commercial real estate
Property ID
US25-1654165
8,414 SF 2.04 ac lot Built 2007
Last sale Nov 2020 · $1,850,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 3-yr Hold Held for 3 years. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

This property in Iowa City is a former bank branch building located on Highway 1 W near Culvers, across from Aldi, and near several auto dealerships. The total building size is 8,414 square feet. A portion of the space is leased to a medical office tenant (Jensen Eyecare) occupying 3,137 square feet, and the property also includes a cell tower lease. The remaining 5,277 square feet of former bank branch space is vacant and features a drive-through configuration. The available interior build-out includes 7 private offices, cubicle areas, a teller line, and a conference room.

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2023

What does the county charge?
$81k
Tax billed · 2023
Assessed value · 2024$2.29M
Assessed land$773k
Assessed improvement$1.52M
Effective rate3.54%

Value estimate

· Oct 2026
$2.78M
$2.50M – $3.05M
Submarket $/SF estimate$1.72M

Realmo valuation models over county records and 10 qualifying comparable sales.

Recently sold

What actually traded nearby?
$118/SF
Submarket average, outlier-cleaned · 75 recorded sales of this use type
Observed band · Q1–Q3$64 – $204
Qualifying comparables10

Cap rate analysis

How does the asset earn?

No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.

Zoning insight

No data for this section
What can be built here?

No zoning code is on file for this parcel. Coverage grows with every catalog release.

JurisdictionJOHNSON

Location intelligence

Which uses thrive at this corner?
Best fit: Wholesale Shop
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Wholesale Shop15.0
HVAC Service13.5
Building Supply13.4

Location

640 Hwy 1st W Iowa City, IA 52246-4229
County assessor Recorded deeds · 2 transfers 10 qualifying comp sales Zoning catalog · not on file

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 6 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
71 Commercial, Iowa City, IA 52246-5802 $390,000 Oct 2024 5,400 SF
5 Sturgis Cor, Iowa City, IA 52246-5602 $725,000 Sep 2023 9,236 SF
115 Hwy 1st W, Iowa City, IA 52246-4201 $700,000 Jun 2023 11,180 SF
79 Commercial, Iowa City, IA 52246-5802 $364,000 Jan 2023 5,224 SF
97 Commercial, Iowa City, IA 52246-5802 $388,000 May 2022 6,000 SF
1059 Hwy 1st W, Iowa City, IA 52246-4227 $1,800,000 Aug 2020 5,580 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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