320 2nd St, Coralville, IA 52241
sale
$6,450,000
|
Other
Courtesy Of Lepic-Kroeger, REALTORS
"Pride of pocketbook" with genuine upside income potential. The Iowa Lodge is both a short term rental and commercial rental property. The short term rentals consist of 80-studio/1 bedroom units, 2, two-bedroom units and a single 3-bedroom unit. Most of the residential units are in the wrap around building to the south, the rear of the property. The management office is on part of the first floor of the north property but the balance of about 3,500 feet is vacant commercial property in need of a tenant. There is also 1,000 feet on the second floor of the north building that is a commercial suite sitting vacant. A buyer can take a fresh look at the property and create new income streams from the vacant commercial property. The residential portion of the property serves an important low income sector of the Coralville market and maintains high occupancy levels. The property is also in a developing area to both the west and the east and has a secondary value as a future development property on the Coralville Strip with a grandfathered sign. Financially, this property represents just over a 10% capitalization rate. See attachments for the full pro-forma.
Read More About This Property
Read Less About This Property
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
- Architecture Style: Other
- Cooling System: Window Unit(s)
- Cooling System: Multi Units
- Cooling System: Central Air
- Exterior Type: Frame
- Exterior Type: Brick
- Floor Covering: Tile
- Floor Covering: Carpet
- Heating System: Forced Air
- Heating System: Natural Gas
- MLSID: 202601036
- Roof Type: Composition
Data powered by Attom Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.