113 Iowa Ave, IowaCity, IA 52240
sale
$1,250,000
|
Other
Courtesy Of Lepic-Kroeger, REALTORS
Investment property fully leased downtown Iowa City with one parking spot behind the building. Sale to be part of a 1031 exchange. Cash financing is the only way to pencil just over a 5% cap rate. Main floor and basement (1900 sq. ft) retail space below is leased by The Wedge Pizzeria through January 31, 2030. Tenant has three 5 year options. Residential space above (988 sq. ft) fully rented without lease which could make easier for renovation options.
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Copyright © 2026 Iowa City Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Property Features
- Age: Over 50 Years Old
- Cooling System: Central Air
- Exterior Type: Brick
- Exterior Type: Frame
- Floor Covering: Wood
- Floor Covering: Concrete
- Heating System: Natural Gas
- MLSID: 202601140
- Roof Type: Tar/Gravel
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