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Listing ID: 202304224
Price: $2,300,000
Status: Active
Address: 640 Hwy 1 W
City: Iowa City
State: Iowa
Postal Code: 52246
SqFt: 8,414
Acres: 2.040
County: Johnson
Iowa City
Former Farmers Savings Bank building at 640 Hwy 1 W, Iowa City is for sale. This space is highly visible and ideally located and configured for a bank, credit union or other financial institution. Daily traffic count is 23,400 cars per day and the zoning is CC2 allowing office and retail uses. The bank portion is vacant & consists of 5,277 SF plus a bank drive through of 660 SF. The bank suite is set up with 7 hard wall offices, several cubicles, teller stations, drive-through stations, work areas, conference room, electronic demark room, mechanical and storage areas. There is a cash vault, main vault, security system and personal property expected in a bank. The furniture, security cameras, cash machine change counter and ATM are negotiable. The building generates income from 2 long-term leases. Jensen Eye Care occupies 3,137 SF with exceptional build out, There is a second lease for 500 ft of exterior space for a cell tower. Lease information is available after first signing an NDA provided in Assoc. Docs. Jensen Eye Care requires 24 hour notice for showings with confirmation. See floor plans in photos.

Basic Features

Listing Price: $2,300,000
Address: 640 Hwy 1 W
City: Iowa City
State: Iowa
Postal Code: 52246
County: Johnson
Zoning: CC2
Area: Iowa City
Year Built: 2007
Location: Freestanding
Business: Educational, Medical Dental, Office Building, Retail Store, Other
Square Feet: 5, 000-10, 000 SqFt
Acres: 2.040
Lot Size: 2-5 Acres
Sale/Lease: For Sale
Rent/Lease: neither
Type of Lease: NA
Rent/Lease Price: $2,300,000
Days on Market: 7
Status: Active
Documents: Aerial Photo, Other Documents Available
Possession: Immediate
Possible Financing: Cash, Conventional

Additional Features

Associated Document Count: 2
CI Features: Delivery Door, Display Window, Security System, Sprinkler System
Construction Company: Brick, Frame
Utilities Available: Cable TV, Electricity, Natural Gas, Telephone, Underground Utilities, Water-City
Cooling: Central A/C
Heating: Gas, Forced Air
Floor Type: Carpet, Ceramic Tile, Vinyl/Vinyl Tile
Gross Tax (County & City): 69000
Lot Dimensions: 88,862
Property Sub Type: Commercial
Roof Type: Composition
Special Features: Other
Tax ID: 1016433001
Tax Year Report: 2021
Variable Rate: no
Road Frontage: Pavement, US Highway

Zoning Info

© 2023 Iowa City Area MLS (ICAARMLS)
Information deemed reliable, but not guaranteed
Listing courtesy of Jeff Edberg of Lepic-Kroeger, REALTORS

Contact - Listing ID 202304224

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Jeff Edberg

2346 Mormon Trek Blvd, Ste #2000
Iowa City, IA 52246
Phone: 319-331-6187
Phone Alt: 319-331-6187

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