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Listing ID: 202304667
Price: $2,200,000
Status: Active
Address: 1100 5th St Unit 1
Unit Number: Unit 1
City: Coralville
State: Iowa
Postal Code: 52241
SqFt: 9,537
County: Johnson
This is a fully leased medical office building that was first leased on April 1, 2018. There is a total of 7,736 leased space on the first and second floors configured as reception, office, and medical procedure areas. There is an additional 1,455 square feet in the lower level that is configured for storage and break room for employees. The entire suite was improved by the tenant without any amortization of TIs in the lease, so the Tenant has a large investment in the space. The finishes are high end and in excellent condition. This property is part of an office condo (HPR-Horizontal Property Regime) that has recently been divided and resurveyed. The divided portion was sold to an investor and the resurvey resulted in 7823 upper-level feet and 1801 basement feet. The lease precedes the HPR, so it is the ruling document with regard to leasable and usable square feet. See full comments in Assoc Docs.

Basic Features

Listing Price: $2,200,000
Address: 1100 5th St Unit 1
Unit Number: Unit 1
City: Coralville
State: Iowa
Postal Code: 52241
County: Johnson
Zoning: CPUD-2
Area: Coralville
Year Built: 1998
Location: Office Center, Shopping Center
Business: Medical Dental
Square Feet: 5, 000-10, 000 SqFt
Lot Size: .5-1 Acre
Sale/Lease: For Sale
Rent/Lease: neither
Type of Lease: N/A
Rent/Lease Price: $2,200,000
Common Area Maintenance: 17097
Days on Market: 7
Status: Active
Documents: Aerial Photo, Floor Plan Avail, Cash Flow Analysis, Demographic Study
Possession: Negotiable
Possible Financing: Cash

Additional Features

Associated Document Count: 5
CI Features: Display Window, Other
Construction Company: Brick, Frame
Utilities Available: Cable TV, Electricity, Natural Gas, Sewer, Telephone, Water-City
Cooling: Central A/C
Heating: Gas, Forced Air
Floor Type: Carpet, Ceramic Tile, Wood
Gross Tax (County & City): 33652
Lot Dimensions: Irregular
Property Sub Type: Commercial
Roof Type: Composition
Special Features: Other
Tax ID: 1006482023
Tax Year Report: 2022
Variable Rate: no
Road Frontage: County/City Road, Pavement

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 202304667

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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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