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27335202
27335203

2346 Mormon Trek Blvd, Iowa City, IA 52246

JE
IA B33730000
Iowa City Commercial Real Estate
Listed by Iowa City Commercial Real Estate
$4,750,000
244 days on market
Updated 20 days ago

2346 Mormon Trek Blvd

Details
Property Type Office
Sub Type Executive Office, Medical Office
Square Footage 28,545
Cap Rate 6.00%
NOI $284,880
Occupancy 100%
Tenancy Multi
Brand/Tenant Covenant Family Solutions, Alberhasky Eye (+5)
Lease Type NNN
Year Built 1996
Buildings 1
Stories 2
Acreage 1.450
Zoning CO1
Investment Type Stabilized

Office | 6.00% CAP | 28,545 SqFt

Marketing description

The Grandview Building on Mormon Trek Blvd is a class A Building with 28,545 square feet of space. It has two surface parking lots as well as underground parking. It is fully leased with a gross income of $521,019 and a net operating income of $284,880. The capitalization rate is 6.0%. The tenants include Covenant Family Solutions, Alberhasky Eye, United Iowa Financial, Lepic-Kroeger, Realtors, City Construction, Willow Creek Dentistry and Susan Mimms Financial. The total leased space is 25,246 and is fully elevator served from the lower level garage to the second floor. Specific leases and financial information are available upon the recipient signing a non-disclosure agreement.

Investment highlights

It is fully leased with a gross income of $521,019 and a net operating income of $284,880. The capitalization rate is 6.0%. The tenants include Covenant Family Solutions, Alberhasky Eye, United Iowa Financial, Lepic-Kroeger, Realtors, City Construction, Willow Creek Dentistry and Susan Mimms Financial.

Listing Contacts

JE
IA B33730000
Iowa City Commercial Real Estate
Listed by Iowa City Commercial Real Estate

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$284,880.00
$23,740.00/mo

Valuation Metrics

0
DSCR
6%
Cap Rate
6%
ROI

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