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1100 5th St , Unit 1

Coralville, IA 52241
  • $2,200,000
  • STATUS: Active
  • ON SITE: 55 Days
  • MLS #: 202401013
UPDATED: 109 min ago
$2,200,000
  • 0
    BEDS
  • 0.22
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 9,537
    SQFT
  • $231
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1998
County:
Area:

School Ratings & Info

Description

This is a fully leased medical office building that was first leased on April 1, 2018. There is a total of 7,736 leased space on the first and second floors configured as reception, office, and medical procedure areas. There is an additional 1,455 square feet in the lower level that is configured for storage and break room for employees. The entire suite was improved by the tenant without any amortization of TIs in the lease, so the Tenant has a large investment in the space. The finishes are high end and in excellent condition. This property is part of an office condo (HPR-Horizontal Property Regime) that has recently been divided and resurveyed. The divided portion was sold to an investor and the resurvey resulted in 7823 upper-level feet and 1801 basement feet. The lease precedes the HPR, so it is the ruling document with regard to leasable and usable square feet. See full comments in Assoc Docs. Call agent to schedule a showing, tenant rights will be respected.

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© 2024 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 | Skogman Realty. Data last updated: 2024-04-18T21:29:59.867
www.gwenjohnson.com/homes/147818392
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1100 5th St , Unit 1 Coralville, IA 52241

  • Price: $2,200,000
  • Status: Active
  • On Site: 55 Days
  • Updated: 109 min ago
  • MLS #: 202401013
0
Beds
0
Baths
0
½ Baths
0.22
Acres
9,537
SQFT
$231
$/SQFT
1998
Built
Neighborhood:
Coralville
County:
Johnson
Area:
Coralville
Property Description
This is a fully leased medical office building that was first leased on April 1, 2018. There is a total of 7,736 leased space on the first and second floors configured as reception, office, and medical procedure areas. There is an additional 1,455 square feet in the lower level that is configured for storage and break room for employees. The entire suite was improved by the tenant without any amortization of TIs in the lease, so the Tenant has a large investment in the space. The finishes are high end and in excellent condition. This property is part of an office condo (HPR-Horizontal Property Regime) that has recently been divided and resurveyed. The divided portion was sold to an investor and the resurvey resulted in 7823 upper-level feet and 1801 basement feet. The lease precedes the HPR, so it is the ruling document with regard to leasable and usable square feet. See full comments in Assoc Docs. Call agent to schedule a showing, tenant rights will be respected.
Exterior Features

Construction Materials BrickFrame Lot Size Acre Range HalfToOneAcre Lot Size Dimensions Irregular Road Frontage Type CountyRoadPaved Roof Composition

Interior Features

Cooling CentralAir Flooring CarpetCeramicTileWood Heating NaturalGasForcedAir Interior Features ElevatorZeroStepEntry

Property Features

Auction Online Bid YN No Business Type MedicalOrDental Buyer Financing Cash Commercial Building Features DisplayWindowOther Common Area Maintenance 17097 Compensation Remarks 3 Expiration Date 2024-08-23 Green Verification YN No Possession Negotiable Property Sub Type Commercial Special Features Other Tax Annual Amount 33652 Tax Year 2022 Utilities CableAvailableElectricityAvailableNaturalGasAvailableSewerAvailablePhoneAvailableCityWater Zoning CPUD-2

Listing information © 2024 Iowa City Area Association of Realtors.
Listing provided courtesy of Jeff Edberg of Lepic-Kroeger, REALTORS: 319-351-8811.



© 2024 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 | Skogman Realty. Data last updated: 2024-04-18T21:29:59.867
 
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The Johnson Team | Skogman Realty
2530 Corridor Way
Coralville IA, 52241