850 Capitol StIowa City, IA 52240

This exceptional 1.65-acre (71,258 sq ft) commercial land parcel, located at 850 S Capitol St, Iowa City, IA 52240, presents a remarkable redevelopment opportunity. Situated at the northeast corner of S. Capitol Street and E. Benton Street, this property boasts a highly desirable location within the Riverfront Crossings district, just seven blocks from downtown Iowa City and the University of Iowa campus. The site benefits from a form-based zoning code (CI-1) that facilitates advantageous development, allowing for appropriate housing densities and parking configurations. With approximately 9,900 cars traversing E. Benton Street daily, this location offers significant visibility and accessibility. The asking price is $7,000,000, translating to a cost of just under $100 per square foot. The property includes two lots and a former, abandoned CRANDIC Railroad right-of-way. Currently, a single-story commercial/office building occupies the site at 850 S. Capitol Street; however, the value lies primarily in the land's potential for future development. This offering compares favorably with other developed and developing parcels within the Riverfront Crossings district. Annual property taxes are $74,276. The property's APN is 1015259002 and 1015280001. Ownership is held by Cruise Furman, LLC. Further details on the Riverfront Crossings development plan are available on the City of Iowa City website. Note that the lot and building at 804 S. Capitol Street are not included in this sale.