VIRTUAL TOURS
TOUR MY LISTINGS ANYTIME
Description
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.
Property Highlights
Property Type: Commercial - Business
Year Built: 1974
General Information
County: Johnson
Listed By:
Skogman Realty Co.
Mark Lynch
319-625-6427
ICAAR MLS
MLS ID: 202605069
Shown By
Agent Name: Kathy Meyer
Agent Phone: (309) 737-5323
Agency Title: Ruhl&Ruhl Realtors
Agent Email:
Get in Touch
Shown By
Agent Name: Kathy Meyer
Agent Phone: (309) 737-5323
Agency Title: Ruhl&Ruhl Realtors
Agent Email:
Contact an agent to learn more about
121 W Benton St., Iowa City, IA 52246.
Mortgage Calculator
Call or Click to get Pre-Approved!
563-441-1862
toll free 866-441-1862
Customize Your Rate
| Loan Type | FHA 30 Year Fixed | VA 30 year fixed | 30 yr Jumbo |
| Purchase Price | $1,350,000 | $1,350,000 | $1,350,000 |
| Down Payment | $47,250 | $0 | $270,000 |
| Monthly Mortgage Amount | $8,270 | $8,603 | $6,826 |
| Taxes | $1879 | $1879 | $1879 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $810 | $0 | $0 |
| Monthly Estimated Total | $11,353 | $10,876 | $9,099 |