Description
Net Leased Investment Property - Building is being further subdivided into individual condominium units. Long established tenant (Farrell's) lease has renewed twice runs through Feb of 2025. Commercial condominium whose association provides exterior and grounds maintenance makes this a low maintenance investment opportunity. 7.22% cap rate yields a healthy return (see attached doc). Rapidly growing area near research campus and new rehab hospitals make this a smart buy.
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0BEDS
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N/AACRES
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0BATHS
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01/2 BATHS
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3,951SQFT
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$180$/SQFT
School Ratings & Info
Description
Net Leased Investment Property - Building is being further subdivided into individual condominium units. Long established tenant (Farrell's) lease has renewed twice runs through Feb of 2025. Commercial condominium whose association provides exterior and grounds maintenance makes this a low maintenance investment opportunity. 7.22% cap rate yields a healthy return (see attached doc). Rapidly growing area near research campus and new rehab hospitals make this a smart buy.
© 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: 2021-03-02T13:25:42.773