Description
This property is priced at a Cook Appraisal price from 5/4/2020 at $2,400,000. The size, including the second-floor conference room, is 17,162 SF. This represents a Capitalization Rate of return of 8.7% if the building is assumed to be full at current market rates. 1/3 of the building is vacant and is ready for a new tenant, or an owner occupant as the existing long-term tenant just relocated. The market rent is a very competitive rate of $20 per foot per year full service, including taxes, insurance, CAM and utilities. That rate approximates a NNN lease rate of $12.56. See Pro-Forma in Associated Documents.
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0BEDS
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2.67ACRES
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0BATHS
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01/2 BATHS
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17,162SQFT
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$140$/SQFT
School Information
Description
This property is priced at a Cook Appraisal price from 5/4/2020 at $2,400,000. The size, including the second-floor conference room, is 17,162 SF. This represents a Capitalization Rate of return of 8.7% if the building is assumed to be full at current market rates. 1/3 of the building is vacant and is ready for a new tenant, or an owner occupant as the existing long-term tenant just relocated. The market rent is a very competitive rate of $20 per foot per year full service, including taxes, insurance, CAM and utilities. That rate approximates a NNN lease rate of $12.56. See Pro-Forma in Associated Documents.
© 2021 Iowa City Area Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Johnson Team. Data last updated: 2021-10-16T13:25:39.443