425 E Hwy 6, Iowa City, IA 52240
425 E Hwy 6, Iowa City, IA 52240
425 E Hwy 6, Iowa City, IA 52240
425 E Hwy 6, Iowa City, IA 52240
425 E Hwy 6, Iowa City, IA 52240
425 E Hwy 6, Iowa City, IA 52240
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Diana Salazar

Diana Salazar

+1(319) 722-1022
$ 4,995,000
Est. payment | /mo

0.83 Acres Lot

Save
$ 4,995,000
Est. payment | /mo
Save

0.83 Acres Lot

Key Details

Property Type Commercial

Sub Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 202507280

Year Built 1980

Annual Tax Amount $103,166

Tax Year 2023

Lot Size 0.834 Acres

Acres 2.57

Lot Dimensions Irregular

Property Sub-Type Commercial

Property Description

Prominent leased investment with Goodwill Industries and Advanced Auto Stores adjacent to the Waterfront Hy Vee in Iowa City. Advanced Auto has occupied the 8086 SF suite since 1997, and Goodwill Industries has occupied a portion of the current 28,277 SF suite since 1967 and has expanded into the full space in 2021. Both tenants have been long-term, stable tenants and occupy the entire 36,322 SF. The lease rates are quite reasonable at $11.17 NNN for Advanced Auto Parts and $12.00 NNN for Goodwill. This represents a 7.0 Capitalization Rate with increases as time goes by. See attached pro-forma for details. Traffic counts on Hwy 6 are 10,700 cars daily. Parking lot is shared with the facing building to the east, providing approximately 125 parking spaces, plus the shared spaces.

Location

State IA

County Johnson

Zoning CC2

Direction From Hwy 6, south on Boyrum, 1st drive on the right.

Interior

Interior Features Zero Step Entry

Heating Natural Gas, Forced Air

Cooling Central Air

Flooring Concrete

Exterior

Utilities Available Cable Available, Electricity Available, Natural Gas Available, Sewer Available, Phone Available, City Water

Roof Type Other

Building

Lot Size Range Two To Five Acres

Structure Type Frame,Steel Or Metal

Others

Tax ID 1015460002

Acceptable Financing Cash

Listing Terms Cash

Special Listing Condition Standard

Listed by Lepic-Kroeger, REALTORS

NEARBY SCHOOLS & PROPERTIES

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Diana Salazar
Diana Salazar

Agent | License ID: S67677000

+1(319) 722-1022

2530 Corridor Way Suite 202, Caralville, Iowa, 52241, United States

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425 E Hwy 6