121 W Benton St. #824 Orchard Street, Iowa City, IA 52246
121 W Benton St. #824 Orchard Street, Iowa City, IA 52246
121 W Benton St. #824 Orchard Street, Iowa City, IA 52246
121 W Benton St. #824 Orchard Street, Iowa City, IA 52246
121 W Benton St. #824 Orchard Street, Iowa City, IA 52246
121 W Benton St. #824 Orchard Street, Iowa City, IA 52246
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JJ Johannes

JJ Johannes

+1(319) 540-1002
$ 1,585,000
Est. payment | /mo

6,760 Sqft Lot

Save
$ 1,585,000
Est. payment | /mo
Save

6,760 Sqft Lot

Key Details

Property Type Commercial

Sub Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 202605070

Year Built 1974

Tax Year 2025

Lot Size 6,760 Sqft

Acres 0.38

Property Sub-Type Commercial

Property Description

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.

Location

State IA

County Johnson

Zoning CC2

Direction North on Highway 6, west on Benton St - parcels located on the corner of Benton St and Orchard St. Located between W Benton Street and S Riverside Drive/Highway 6 in Iowa City

Interior

Heating Other

Cooling Other

Flooring Other

Exterior

Utilities Available See Remarks

Roof Type Other

Building

Lot Size Range Half To One Acre

Structure Type Other

Others

Tax ID 1016194013, 1016194016

Acceptable Financing Other

Listing Terms Other

Special Listing Condition Standard

Listed by Skogman Realty Co.

NEARBY SCHOOLS & PROPERTIES

JJ Johannes

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(319) 540-1002

jj@thejohannesgroup.com

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121 W Benton St. #824 Orchard Street