Pat Beck

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640 Highway 1 WIowa City, IA 52246

Commercial · 8,414 Sq. ft. | 2.04 Acres
$1,600,000 Active

640 Highway 1 W Overview

Time on Site:
486 days
Visits:
90

Highly visible former bank branch building on the South side of Iowa City for sale. This property is partially leased to a medical office user and also benefits from a cell tower lease. The former bank branch is currently vacant, which is 5,277 SF with a drive through. The interior buildout of the available space contains 7 private offices, cubicle spaces, teller line and a conference room. Jensen Eyecare occupies 3,137 SF.

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640 Highway 1 W Facts & Features

  • Type Commercial
  • Sq. ft. 8,414
  • Price/Sq.ft. $190
  • Lot 2.04 Acres

Details

General

Building Information

  • Year Built: 2007

Business Information

  • Business Name: Office Building,Retail Store,Other

Location/Region

  • County Or Parish: Johnson
  • MLS Area Major: Iowa City

Tax Information

  • Tax Year: 2024

General Information

  • Inclusions: Building & Land
  • Property Sub Type: Commercial
  • Property Type: COMMERCIAL
  • Zoning: CC2

Interior

Building Interior

  • Building Area Total: 8414

General Information

  • Cooling: Central A/C
  • Flooring: Carpet
  • Heating: Central
  • Interior Features: Other

Exterior

Lot Information

  • Lot Size Acres: 2.04
  • Lot Size Area: 2-5 Acres
  • Lot Size Dimensions: 0

Building Exterior/Construction

  • Roof: Composition

General Information

  • Road Frontage Type: County/City Road,Pavement,State Highway
  • Utilities: Electricity,Natural Gas,Sewer,Water-City

640 Highway 1 W Neighborhood

Community

52246 (Iowa City) Demographics

28
Median Age
2,519
Population Density (per sq. mile)
72%
College Educated
$47,888
Estimated Median Income
4,190
Estimated Total Home Owners
6,156
Estimated Total Renters
40% / 60%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

640 Highway 1 W Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

640 Highway 1 W Market Data

Based on the last 30 days in this zip code

$386,851
Average List Price
$200
Average Price per Square Foot
67
Properties Sold
111
Average Days on Market
188
Properties for Sale
Calculations provided by Reliance Network

640 Highway 1 W History

Date Event Value Agent
1/6/2026Source: Cedar Rapids Area MLS Price Reduction
$1,600,000 -11.1%
1/6/2026Source: Iowa City MLS Price Reduction
$1,600,000 -11.1%
8/26/2025Source: Cedar Rapids Area MLS Price Reduction
$1,800,000 -7.7%
8/26/2025Source: Iowa City MLS Price Reduction
$1,800,000 -7.7%
3/6/2025Source: Iowa City MLS Status Change
Active
2/28/2025Source: Iowa City MLS Added to Database
February 28, 2025
2/27/2025Source: Cedar Rapids Area MLS Added to Database
February 27, 2025
Listing provided courtesy of GLD Commercial Real Estate Advisors- MLS# 202501363MLS Provider