Sale Price $1,585,000 - MLS: 202605070
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.
MLS #: 202605070
Sale Price: $1,585,000
Year Built: 1974
Sq Ft: 6760.0
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