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About This Home
This 0-bedroom, 0-bathroom commercial at 425 E Hwy 6 in IowaCity, IA is listed for $5,500,000. Built in 1980, on a 2.57 acres lot.
Prominent leased investment with Goodwill Industries and Advanced Auto Stores adjacent to the Waterfront Hy Vee in Iowa City. Advanced Auto has occupied the 8086 SF suite since 1997, and Goodwill Industries has occupied a portion of the current 28,277 SF suite since 1967 and has expanded into the full space in 2021.
Both tenants have been long-term, stable tenants and occupy the entire 36,322 SF. The lease rates are quite reasonable at $11.17 NNN for Advanced Auto Parts and $12.00 NNN for Goodwill. This represents a 7.0 Capitalization Rate with increases as time goes by. See attached pro-forma for details. Traffic counts on Hwy 6 are 10,700 cars daily. Parking lot is shared with the facing building to the east, providing approximately 125 parking spaces, plus the shared spaces.
Key Features
- Built in 1980
- 2.57 acre lot
Property Details
Monthly Cost Estimate
$29,415/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
425 E Hwy 6
IowaCity, IA 52240
Features & Amenities
Interior Features
Property Details
Flooring
Construction
Heating
Cooling
Questions & Answers
This 0-bedroom, 0-bathroom commercial at 425 E Hwy 6 is listed at $5,500,000. The estimated monthly payment is $23,833 based on 20% down at 6.5% interest.
Key features include: Built in 1980, 2.57 acre lot. Interior Features: Zerostepentry.
This property is listed by Jeff Edberg and can be reached at 3193316187 or jeff@icrealestate.com.
