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2346 Mormon Trek Blvd 40,000 SF 100% Leased Office Building Iowa City, IA 52246 $6,630,620 CAD ($165.77 CAD/SF) 6% Cap Rate

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EXECUTIVE SUMMARY

The Grandview Building on Mormon Trek Blvd is a class A Building with 28,545 square feet of space. It has two surface parking lots as well as underground parking. It is fully leased with a gross income of $521,019 and a net operating income of $284,880. The capitalization rate is 6.0%. The tenants include Covenant Family Solutions, Alberhasky Eye, United Iowa Financial, Lepic-Kroeger, Realtors, City Construction, Willow Creek Dentistry and Susan Mimms Financial. The total leased space is 25,246 and is fully elevator served from the lower level garage to the second floor. Specific leases and financial information are available upon the recipient signing a non-disclosure agreement

PROPERTY FACTS

Sale Type
Investment
Property Type
Office
Building Size
40,000 SF
Building Class
B
Year Built
1996
Price
$6,630,620 CAD
Price Per SF
$165.77 CAD
Cap Rate
6%
NOI
$397,670 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
20,000 SF
Building FAR
0.63
Lot Size
1.45 AC
Zoning
CO1

MAJOR TENANTS Click Here to Access

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE END
  • Health Care and Social Assistance
  • -
  • -
  • Jan 0000

The team of eye doctors and eye care staff are present to care for all vision needs. They handle everything from adult and children’s eye exams and hard-to-fit contact lenses to eye emergencies, treatment of eye diseases, and co-management of eye surgery such as LASIK. With more than 15 years of history in Iowa City, the Alberhasky Eye Clinic (which opened in November of 1997) has connected with the community by participating in Healthy Kids Community Care, a school-based Health Clinic. By staying current with the latest developments in eye care, prescription lenses, and advances in contact lens technology, their vision center can provide individuals with the best vision, advice, and fit today—and in the years to come. They take pride in building lasting relationships with their patients, which is why they take the time to get to know each individual, their vision requirements, and their lifestyle needs.

  • Construction
  • -
  • -
  • Jan 0000

A job for them isn’t just showing up and doing the work, it’s making sure to keep on schedule, on budget, and if they can, under both, so that their customers don’t have to worry. From renovations to demolitions to ground-up builds, they've done it all. After almost two decades of experience, they've learned how to work for and with their customers. They won’t just make their customer's project a success or something beautiful—they'll make it something they don’t have to worry about, ever, from the very start. Part of any good company, any good community, is having their head on straight with a solid forward plan. They'll take the time necessary to make sure whatever they come up with doesn’t just work for them, but works for the customer, too. Their company knows that taking care of the community involves taking care of the environment around it. They make sure to use sustainable materials so that the impact they have is beneficial for both their customers, and the planet.

TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE END
Health Care and Social Assistance - - Jan 0000
Construction - - Jan 0000

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
1020157004
Land Assessment
$926,745 CAD
Improvements Assessment
$5,337,884 CAD
Total Assessment
$6,264,628 CAD
  • Listing ID: 37353615

  • Date on Market: 2025-08-20

  • Last Updated:

  • Address: 2346 Mormon Trek Blvd, Iowa City, IA 52246

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