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.
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.
