Contact us: 563.441.1776
Description
Value add investment. 37,875 SF office investment opportunity offered at $2.2 million ($58/SF), an extremely competitive price point for a building of this size in Iowa City. The property is partially leased to established tenants including University of Iowa Community HomeCare and Mass Markets, creating in-place income with significant upside through lease-up of the remaining 2nd and 3rd floor vacancy. Large floor plates and flexible suite configurations allow for a variety of office, medical, service, or back-office users. Rare opportunity to acquire a substantial commercial building with immediate income. At 80% occupancy the building could be worth $3.0 mil at an 9% cap rate, see attached Proforma.
Property Highlights
Property Type: Commercial - Business
Year Built: 1999
Lot Size: 2.40 acres
General Information
County: Johnson
Listed By:
Skogman Realty Co.
319-625-6427
Mark Lynch
ICAAR MLS
MLS ID: 202603021
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2937 Sierra Ct Sw, Unit Entire Bui, Iowa City, IA 52240.
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toll free 866-441-1862
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| Loan Type | FHA 30 Year Fixed | VA 30 year fixed | 30 yr Jumbo |
| Purchase Price | $2,200,000 | $2,200,000 | $2,200,000 |
| Down Payment | $77,000 | $0 | $440,000 |
| Monthly Mortgage Amount | $13,125 | $13,655 | $10,694 |
| Taxes | $3062 | $3062 | $3062 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $1,320 | $0 | $0 |
| Monthly Estimated Total | $18,149 | $17,359 | $14,398 |
Disclaimer:
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided 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. Information on this site was last updated 05/18/2026. The listing information on this page last changed on 05/18/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Mon 05/18/2026 7:02:23 AM EST) or MRED MLS (last updated Mon 05/18/2026 2:04:12 AM EST) or SCWMLS (last updated Sun 05/17/2026 11:54:39 PM EST) or Rockford Board of Realtors (NWIAR) (last updated Sun 05/17/2026 10:15:19 PM EST) or Cedar Rapids MLS (last updated Mon 05/18/2026 6:52:00 AM EST) or NEIRBR MLS (last updated Mon 05/18/2026 6:30:21 AM EST) or ICAAR MLS (last updated Sun 05/17/2026 11:37:30 PM EST) or ECIMLS (last updated Sun 05/17/2026 11:44:17 PM EST) or RMLSA (last updated Mon 05/18/2026 1:10:56 AM EST) or Muscatine MLS (last updated Mon 05/18/2026 2:00:10 AM EST) or No Coast MLS (last updated Mon 05/18/2026 12:44:18 AM EST). Real estate listings held by brokerage firms other than Ruhl & Ruhl Careers may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.
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