2834 Northgate Dr Iowa City, IA 52245
Property profile & analytics
2834 Northgate Dr Iowa City, IA 52245
- Commercial real estate
- 12,300 SF
- 1.98 lot acres
Property ID
US25-1459862
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
- Businessolver / Business Management Consultant
- New LVL Today Incoporated / Marketing & Advertising
Property Details for 2834 Northgate Dr
- Year built
- 1996
- Construction
- STEEL FRAME
- Lot size
- 1.98 lot acres
- Property size
- 12,300 SF
- Property type
- Commercial real estate
- APN
- 736452003
- APU
- 736452003
Description
This exceptional two-story office building, located at 2834 Northgate Drive in Iowa City, IA 52245, presents a significant investment opportunity. Spanning 17,967 square feet, the property features a versatile layout including open floor plan areas, private offices, and cubicles. All cubicles and furniture are high-quality Herman Miller brand and are included in the sale price. The building boasts a distinctive first-floor atrium and an east-facing patio, ideal for employee use or client gatherings. The first floor encompasses approximately 12,000 square feet, while the walk-out lower level offers an additional 6,000 square feet. Both floors are ADA accessible, each equipped with two ADA-compliant restrooms. Ample parking is provided with 85 spaces. The property sits on a 1.98-acre lot and is zoned CO-1, permitting office, medical, and service uses. Currently under lease, the building can be delivered vacant to a new owner or tenant within 30 days of a fully executed contract. The asking price is $2,850,000, translating to $158.62 per square foot. The property's APN is 0736452003. This is a Net Net Net (NNN) lease property with multiple tenants. This presents a rare opportunity to acquire a well-maintained, strategically located office building in a thriving Iowa City market.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,575,000
- 6.5%
- $1,450,000
- 7%
- $1,350,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,598,000
- AI Estimate
- $2,000,000
Market price range: $793k - $2.51MMarket price range: $742k - $2.73M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $1,455,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $2,250,000 Change: +55% Conversion: Difficult
- RETAIL STORES
- $1,935,000 Change: +33% Conversion: Easy
- OFFICE BUILDING
- $1,585,000 Change: +9% Conversion: Easy
- WAREHOUSE, STORAGE
- $1,365,000 Change: -6% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Iowa City
- County
- Johnson
- State
- Iowa
- Longitude
- -91.4917
- Latitude
- 41.6888
- 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
$80,430
$439,700
$1,834,660
$2,274,360
-
$439,700
$1,834,660
$2,274,360
