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$ 1,585,000
Est. payment | /mo
6,760 Sqft Lot
$ 1,585,000
Est. payment | /mo
6,760 Sqft Lot
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 202605070
Year Built 1974
Tax Year 2025
Lot Size 6,760 Sqft
Acres 0.38
Property Sub-Type Commercial
Property Description
Two NNN investment opportunities available separately in Iowa City — a proven university market with stable long-term demand. Both properties are absolute NNN with tenants handling operating expenses, offering low-management income for the right buyer. 121 W Benton Street is the anchor of the two, a single-tenant absolute NNN with over 7 years remaining on a 10-year lease, annual rent bumps, and two 10-year renewal options extending the investment horizon well into the future. Priced at $1,350,000 at a 7.42% cap rate. 824 Orchard Street priced at approximately a 7.14% cap on current income. Current lease runs through March 2027 with a renewal option, and the building suits a range of service-oriented uses. Properties may be purchased separately. Both are well-positioned in Iowa City's commercial core, with easy access and established tenant bases. Contact listing agent for details on either or both.
Location
State IA
County Johnson
Zoning CC2
Direction North on Highway 6, west on Benton St - parcels located on the corner of Benton St and Orchard St. Located between W Benton Street and S Riverside Drive/Highway 6 in Iowa City
Interior
Heating Other
Cooling Other
Flooring Other
Exterior
Utilities Available See Remarks
Roof Type Other
Building
Lot Size Range Half To One Acre
Structure Type Other
Others
Tax ID 1016194013, 1016194016
Acceptable Financing Other
Listing Terms Other
Special Listing Condition Standard
Listed by Skogman Realty Co.
NEARBY SCHOOL & BUSINESS