1210 Gilbert St
Iowacity,
IA
52240
Property Details
| List Price: |
$1,976,000 |
| Beds: |
-- |
| Baths: |
-- |
| Status: |
Active |
SqFt: |
-- |
| Agency: |
Lepic-Kroeger, REALTORS |
Description/Comments
| Lot Size: |
-- |
| Property Type: |
Commercial |
| Year Built: |
1970 |
| Notes: |
The South Gilbert Center is a leased commercial strip center for sale. This 10,400 SF building is just south of downtown Iowa City & the University of Iowa & directly across the street from Big Grove Brewery, a popular dining & entertainment center. There are two suites vacant, but lease proposals are on the table. The rent shown in the proforma shows the new rent of $17.15 for the Euro Foods store that increases to that rate in May, 2024. The South Gilbert Center has always been a good performer, rents well, & has plenty of off-street parking in its own parking lot. Current tenants include Thai Spice, Norva Salon, Advanced Services Temp Agency & Euro Foods, an international food & bakery store. The strip is stable & shows a 7.1% cap rate based on the actual owner's operation. A Pro-forma is in the associated Documents. |
| MlsNumber: |
202400930 |
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| Listing Provided By: |
Lepic-Kroeger, REALTORS, original listing |
| Name: |
Lepic-Kroeger, REALTORS |
| Phone: |
(319) 351-8811 |
| Office Name: |
Lepic-Kroeger, REALTORS |
| Office Phone: |
(319) 351-8811 |
| Agent Name: |
Jeff Edberg |
| Disclaimer: |
Copyright © 2024 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. |
