3
See all 3 photos
$1,250,000
Est. payment /mo
2,888 Sqft Lot
Price Dropped by $50K
113 Iowa Ave Iowa City, IA 52240
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 202601140
Year Built 1900
Annual Tax Amount $19,790
Tax Year 2024
Lot Size 2,888 Sqft
Acres 0.04
Lot Dimensions 19 X 100
Property Sub-Type Commercial
Property Description
Investment property fully leased downtown Iowa City with one parking spot behind the building. Sale to be part of a 1031 exchange. Cash financing is the only way to pencil just over a 5% cap rate. Main floor and basement (1900 sq. ft) retail space below is leased by The Wedge Pizzeria through January 31, 2030. Tenant has three 5 year options. Residential space above (988 sq. ft) fully rented without lease which could make easier for renovation options.
Location
State IA
County Johnson
Zoning C & MR R3+
Direction South on Dubuque St, West on Iowa Ave.
Interior
Heating Natural Gas
Cooling Central Air
Flooring Concrete, Wood
Exterior
Utilities Available Cable Available, Electricity Available, Sewer Available, Phone Available, City Water
Roof Type Tar Gravel
Building
Lot Size Range Less Than Half Acre
Structure Type Brick,Frame
Others
Tax ID 1010311012
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Special Listing Condition Standard
Listed by Lepic-Kroeger, REALTORS
NEARBY SCHOOL & BUSINESS
GET MORE INFORMATION