2425 Muscatine Ave Iowa City, IA 52240-6647
Property profile & analytics
2425 Muscatine Ave Iowa City, IA 52240-6647
- Commercial real estate
- 15,236 SF
- 1.56 lot acres
Property ID
US25-2048605
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Redbox / Cinema / (Bike/Boat/Book/etc) Store
- UPS Access Point location / Courier Service / Postal Service
- CDReload Instant Bitcoin / Crypto Atm
- CVS Pharmacy / Pharmacy
- Jill Weetman / Pharmacy
Property Details for 2425 Muscatine Ave
- Year built
- 2001
- Construction
- STEEL FRAME
- Lot size
- 1.56 lot acres
- Property size
- 15,236 SF
- Property type
- Commercial real estate
- APN
- 1013328002
- APU
- 1013328002
Description
This exceptional investment opportunity presents a fee-simple ownership of a 15,251-square-foot CVS Pharmacy in Iowa City, IA. Located at 2425 Muscatine Ave, 52240, this property boasts a strong 7.00% cap rate and a substantial net operating income (NOI) of $263,035. The absolute NNN lease with CVS Pharmacy, a credit-rated tenant with a corporate guarantee, ensures minimal landlord responsibilities. The lease, originally signed in 2006 for 25 years, has over 7.2 years remaining on the initial term, with ten 5-year renewal options. The property sits on a 1.56-acre lot and benefits from its prime location across from Towncrest Shopping Center, an 82,000-square-foot retail center anchored by Hy-Vee. The high-traffic area, with over 12,100 vehicles daily on Muscatine Avenue, and a dense population of over 63,800 residents within a three-mile radius, ensures consistent tenant performance. The asking price is $3,757,653, translating to a price per square foot of $246.39. This is a rare opportunity to acquire a stable, high-performing retail investment with a blue-chip tenant and significant long-term potential. The property's strong financials, coupled with its strategic location and the tenant's financial strength, make this an attractive investment for discerning buyers.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,950,000
- 6.5%
- $1,800,000
- 7%
- $1,670,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,456,000
- AI Estimate
- $1,826,000
Market price range: $786k - $2.48MMarket price range: $848k - $3.11M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $1,440,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $2,790,000 Change: +94% Conversion: Difficult
- RETAIL STORES
- $2,395,000 Change: +67% Conversion: Easy
- OFFICE BUILDING
- $1,965,000 Change: +37% Conversion: Easy
- INDUSTRIAL (GENERAL)
- $1,425,000 Change: -1% Conversion: Moderate
- WAREHOUSE, STORAGE
- $1,415,000 Change: -1% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Iowa City
- County
- Johnson
- State
- Iowa
- Longitude
- -91.5001
- Latitude
- 41.6492
- CBSA code
- 26980
- CBSA name
- IOWA CITY, IA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$77,772
$696,350
$1,505,250
$2,201,600
-
$696,350
$1,505,250
$2,201,600
