Farmers Savings Bank | 640 Highway 1 W
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Farmers Savings Bank 640 Highway 1 W
8,414 SF 49% Leased Office Building Iowa City, IA 52246 $2,300,000 ($273/SF)
Executive Summary
Former Farmers Savings Bank building at 640 Hwy 1 W, Iowa City is for sale. This space is highly visible and ideally located and configured for a bank, credit union or other financial institution. Daily traffic count is 23,400 cars per day and the zoning is CC2 allowing office and retail uses. The bank portion is vacant & consists of 5,277 SF plus a bank drive through of 660 SF. The bank suite is set up with 7 hard wall offices, several cubicles, teller stations, drive-through stations, work areas, conference room, electronic demark room, mechanical and storage areas. There is a cash vault, main vault, security system and personal property expected in a bank. The furniture, security cameras, cash machine change counter and ATM are negotiable. The building generates income from 2 long-term leases. Jensen Eye Care occupies 3,137 SF with exceptional build out, There is a second lease for 500 ft of exterior space for a cell tower
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
8,414 SF
Building Class
A
Year Built
2007
Price
$2,300,000
Price Per SF
$273
Percent Leased
49%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
8,414 SF
Building FAR
0.09
Lot Size
2.04 AC
Zoning
CC-2
Parking
62 Spaces (7.37 Spaces per 1,000 SF Leased)
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
- 1st Floor
- 4,256 SF
- Office
- Full Build-Out
- Now
| Space | Size | Space Use | Condition | Available |
| 1st Floor | 4,256 SF | Office | Full Build-Out | Now |
1st Floor
| Size |
| 4,256 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
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Walk Score®
Very Walkable (70)
Bike Score®
Very Bikeable (76)
PROPERTY TAXES
| Parcel Number | 1016433001 | Improvements Assessment | $1,518,760 |
| Land Assessment | $773,300 | Total Assessment | $2,292,060 |
PROPERTY TAXES
Parcel Number
1016433001
Land Assessment
$773,300
Improvements Assessment
$1,518,760
Total Assessment
$2,292,060
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Farmers Savings Bank | 640 Highway 1 W
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