$6,500,000

850 S Capitol St Iowa City, IA 52240

Estimated payment $42,196/month

Total Views 17,959
1.65 Acres
$3,939,394 Price per Acre
71,874 Sq Ft Lot

Highlights

  • Commercial or Retail Space
  • Level Lot
  • 4-minute walk to Riverfront Crossings Park
  • City High School Rated A-

About This Lot

The value of this offering is in the land for future development and the pricing compares well with other parcels that have been developed and are under development near this site and in the Riverfront Crossing district. More information on the Riverfront Crossings development plan is available on the City of Iowa City website at: .

Listing Agent

Jeff Edberg

Lepic-Kroeger, REALTORS Listed on: 05/12/2025

Lepic-Kroeger, REALTORS

Co-Listing Agent

Teague Case

Westwinds Real Estate Services, Inc.

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $75,576

Lot Details

  • 1.65 Acre Lot
  • Lot Dimensions are 90 x 105
  • Property fronts a county road
  • Level Lot
  • Open Lot
  • Property is zoned CI-1

Home Design

  • Commercial or Retail Space

Utilities

  • Internet Available
  • Cable TV Available

Community Details

  • County Seat Addition Subdivision

Listing and Financial Details

  • Assessor Parcel Number 1015259002 and 1015280001

Property Details

Property Type

Land

Est. Annual Taxes

$75,576

Lot Details

0

Listing Details

  • Property Type: LOTS/LAND
  • Type: Commercial
  • Photo Code: Complete
  • Photo Code1: Broker Loaded
  • Remarks: 1.65 acres in a prime LOCATION; just 7 blocks from the Old Capitol building, the core of downtown Iowa City & the center of the University of Iowa campus. It's priced at $6,500,000; approx $91 per foot for land cost. It is comprised of two lots plus the former CRANDIC Railroad ROW which has been abandoned & included with this site. It is in the Riverfront Crossings District with a form-based zone code allowing appropriate housing densities & parking requirements. There is currently a single-story commercial / office building on this site. The lot and building directly to the north, 804 S. Capitol St, are not included in this offering but is listed for sale & can be added to complete a nice building site. The price of 804 Capitol is $1,000,000. The value of this offering is in the land for future development & the pricing compares well with other parcels that have been developed & are under development near this site & also in the Riverfront Crossing District.
  • Tax Year Report: 2022
  • Potential Use: Commercial/Industrial, Office/Institutional
  • Subdivision: County Seat Addition
  • Directions: Property is on the corner of E Benton St and S. Capitol St in Iowa City.
  • L O1 Dues Paid: y
  • L O2 Dues Paid: y
  • L O3 Dues Paid: y
  • Special Features: None
  • Property Sub Type: LotsLands

Exterior Features

  • Road Frontage: County/City Road, Pavement

Utilities

  • Internet: Yes
  • Utilities Available: Cable TV, Electricity, Natural Gas, Sewer, Water-City

Condo/Co-op/Association

  • Amenities: Sidewalks, Street Lights

Lot Info

  • Acreage: 1.65
  • Geo Subdivision: IA
  • Lot Dimensions: 90 x 105
  • Zoning: CI-1
  • Estimated Lot Sq Ft: 1-2 Acres
  • Improvements: Curb & Gutter, Open Land
  • Present Use: Undeveloped Land
  • Topology: Level

Tax Info

  • Gross Tax County City: 84300
  • Assessor Parcel Number: 1015259002 and 1015280001

Map

Range of Values:

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Average Value
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $75,576 $2,133,940 $875,000 $1,258,940
2023 $68,830 $2,133,940 $875,000 $1,258,940
2022 $65,584 $1,981,140 $875,000 $1,106,140
2021 $65,480 $1,981,140 $875,000 $1,106,140
2020 $65,480 $1,979,260 $875,000 $1,104,260
2019 $62,194 $1,979,260 $875,000 $1,104,260
2018 $62,194 $1,876,130 $625,000 $1,251,130
2017 $58,240 $1,876,130 $625,000 $1,251,130
2016 $58,460 $1,768,500 $375,000 $1,393,500
2015 $58,460 $1,768,500 $375,000 $1,393,500
2014 $54,058 $1,617,610 $312,500 $1,305,110
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/12/2025 05/12/25 For Sale $6,500,000 -- --
Source: Iowa City Area Association of REALTORS®

Purchase History

Date Type Sale Price Title Company
Interfamily Deed Transfer -- None Available
Warranty Deed $1,500,000 None Available
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $2,975,000 Commercial
Closed $1,680,000 Future Advance Clause Open End Mortgage
Previous Owner $250,000 Credit Line Revolving
Source: Public Records

Source: Iowa City Area Association of REALTORS®

MLS Number: 202503150

Iowa City Area Association of REALTORS®

APN: 1015259002