Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2820 Riverside Dr Iowa City, IA 52246-5863
    Back to Search
    Property profile & analytics

    2820 Riverside Dr Iowa City, IA 52246-5863

    View on Map
    • Commercial real estate
    • 21,800 SF
    • 2.04 lot acres
    Off-Market
    Property ID
    US25-1942783
    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.
    Value Estimations
    $1,445,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2820 Riverside Dr

    Year built
    1982
    Construction
    STEEL FRAME
    Lot size
    2.04 lot acres
    Property size
    21,800 SF
    Property type
    Commercial real estate
    APN
    1028101007
    APU
    1028101007

    Description

    This single-tenant industrial property, located at 2820 S Riverside Dr, Iowa City, IA 52246, offers 21,800 square feet of versatile flex and warehouse space. Originally constructed in 1982 as a beer distribution warehouse, the building features a steel frame and has undergone significant improvements since 2010. The space includes approximately 2,709 square feet of office space with mezzanine storage, and 19,091 square feet of warehouse space. Warehouse features include two 16-foot overhead doors and two loading docks. Side wall heights range from 18 to 23 feet. The property sits on a 2.04-acre lot and boasts approximately 43,000 square feet of paved outdoor storage. A functional solar array is expected to reduce annual electricity costs by approximately $6,000. The building's convenient location offers easy truck access, less than one mile from Hwy 218/I-380 and less than two miles from Hwy 6. The property is zoned I-1 and has a Johnson County APN of 1028101007. This is a fantastic opportunity for a business seeking a well-maintained, energy-efficient industrial space with ample outdoor storage in a prime Iowa City location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,405,000
      Market price range: $1.41M - $4.46M
      AI Estimate
      $989,000
      Market price range: $990k - $2.88M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Iowa City
    County
    Johnson
    State
    Iowa
    Longitude
    -91.5435
    Latitude
    41.6245
    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
    $37,258
    $186,100
    $906,520
    $1,092,620
    -
    $186,100
    $906,520
    $1,092,620

    Comparable in this City

    • Value Estimation by Request

      822 Riverside Dr

      Land
      822 Riverside Dr, Iowa City, IA 52246
      View Details
    • Value Estimation by Request
      35.35 Acres

      Iowa City, IA 52246

      COMMERCIAL (GENERAL) • 35.35 Acres
      Iowa City, IA 52246
      View Details
    • Value Estimation by Request

      550 Greenwood Dr

      COMMERCIAL (GENERAL)
      550 Greenwood Dr, Iowa City, IA 52246
      View Details
    • Value Estimation by Request

      1801 Riverside Dr, Unit A

      COMMERCIAL (GENERAL)
      1801 Riverside Dr, Iowa City, IA 52246-5704
      View Details
    • Value Estimation by Request

      Iowa City, IA 52246

      COMMERCIAL (GENERAL)
      Iowa City, IA 52246
      View Details
    • Value Estimation by Request

      4515 Melrose Ave

      COMMERCIAL (GENERAL)
      4515 Melrose Ave, Iowa City, IA 52246-9400
      View Details

    Similar Nearby for Sale

    • $800,000
      1.01 Acres

      Restaurant and Retail Space Available

      Commercial space with restaurant buildout and warehouse access.
      1029 S Riverside Dr, Iowa City, IA 52246
      View Details
    • $3,650,000
      8,064 SF

      Multifamily Investment Near University Campus

      42-unit multifamily property near UIHC and University of Iowa campus.
      732 Michael St, Iowa City, IA 52246
      View Details
    • $3,750,000
      16,128 SF

      Multifamily Investment Property Near Campus

      Three buildings with 42 units near UIHC and Kinnick Stadium.
      732 Michael St, Iowa City, IA 52246
      View Details
    • Contact for pricing

      Prime Commercial Lot on Riverside

      1.02 acre commercial lot in high-traffic area.
      822 S Riverside Dr, Iowa City, IA 52246
      View Details
    • $1,000,000
      7.20 Acres

      7.2 Acres on Camp Cardinal

      7.2 acre parcel zoned MU in IowaCity, Iowa.
      800 Camp Cardinal Blvd, Iowa City, IA 52246
      View Details
    • $950,000
      Pending

      Iowa City Commercial Building For Sale

      2752 SF commercial building on 0.81 acres in Iowa City.
      955 Mormon Trek Blvd, Iowa City, IA 52246
      View Details

    Similar Nearby for Lease

    • $5,500 /Mo
      61,420 SF

      Finished Office Space For Rent

      Finished office space with individual offices, reception, and conference rooms.
      1121 Shirken Dr, Iowa City, IA 52246
      View Details
    • $6,250 /Mo

      IowaCity Retail Space For Rent

      Highly visible retail space in a busy shopping center.
      101 Highway 1 W, Iowa City, IA 52246
      View Details
    • $28 SF/Yr
      106,286 SF

      Iowa City Retail/Restaurant Space

      Former cell phone store suitable for retail or restaurant use.
      352 Highway 1 W, Iowa City, IA 52246
      View Details
    • $550 /Mo

      Retail Space on Highway 1

      Retail space available for lease on Highway 1 in IowaCity.
      459 Highway 1 W, Iowa City, IA 52246
      View Details
    • $1,500 /Mo
      4,356 SF

      Iowa City Commercial Space For Rent

      Commercial space in high traffic location available for rent.
      443 Highway 1 W, Iowa City, IA 52246
      View Details
    • $12 SF/Yr

      Visible Retail Space in IowaCity

      Highly visible retail space in a well-established shopping center.
      41 Highway 1 W, Iowa City, IA 52246
      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.
    2820 Riverside Dr
    Iowa City, IA 52246-5863
    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
    2820 Riverside Dr, Iowa City, IA, 52246
    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!