Sale Price $1,350,000 - MLS: 202605069
Great passive income play in the heart of Iowa City. Situated along the W Benton Street corridor with strong visibility and easy access serving the University of Iowa community and surrounding neighborhoods. This is a true absolute NNN; tenant handles everything including taxes, insurance, HVAC, maintenance, and roof. Landlord just collects a check. Lease runs through July 2033 with two 10-year renewal options, so you're looking at a potential hold to 2053. Annual 2% rent bumps are baked in throughout the initial term and both extensions. Priced at $1,350,000 reflecting a 7.42% cap rate on current NOI. Good fit for a 1031 buyer or anyone looking for low-hassle NNN income in a stable university town market.
MLS #: 202605069
Sale Price: $1,350,000
Year Built: 1974
Sq Ft: 4480.0
Business: Retail, Other
Construction: Other
Floor Type: Other
Financing:
Utilities: See Remarks
Acreage: 0.38
Lot: n/a
Frontage: County Road
Energy Generation:
Heat/Cooling: Other, Other
Information deemed reliable but not guaranteed
 | Edge Realty Group 319-351-3355 |
Listing Office: Skogman Realty Co. - Agent: Mark Lynch - Information furnished by Iowa City Area Association of Realtors