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2937 Sierra Ct SW #Entire BuildingIowa City, IA 52240

Commercial · 37,875 Sq. ft. | 2.40 Acres
$2,200,000 Active

2937 Sierra Ct SW #Entire Building Overview

Time on Site:
53 days
Visits:
16

Value add investment. 37,875 SF office investment opportunity offered at $2.2 million ($58/SF), an extremely competitive price point for a building of this size in Iowa City. The property is partially leased to established tenants including University of Iowa Community HomeCare and Mass Markets, creating in-place income with significant upside through lease-up of the remaining 2nd and 3rd floor vacancy. Large floor plates and flexible suite configurations allow for a variety of office, medical, service, or back-office users. Rare opportunity to acquire a substantial commercial building with immediate income. At 80% occupancy the building could be worth $3.0 mil at an 9% cap rate, see attached Proforma.

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2937 Sierra Ct SW #Entire Building Facts & Features

  • Type Commercial
  • Sq. ft. 37,875
  • Price/Sq.ft. $58
  • Lot 2.40 Acres

Details

General

Building Information

  • Year Built: 1999

Business Information

  • Business Name: Office Building

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: CI-1

Interior

Building Interior

  • Building Area Total: 37875

General Information

  • Cooling: Central A/C
  • Flooring: Concrete Slab/Grade
  • Heating: Central
  • Interior Features: Sprinkler System,None

Unit Information

  • Unit Number: Entire Building

Exterior

Lot Information

  • Lot Size Acres: 2.4
  • Lot Size Area: 2-5 Acres
  • Lot Size Dimensions: NA

Building Exterior/Construction

  • Roof: Other

General Information

  • Road Frontage Type: County/City Road
  • Utilities: Electricity,Natural Gas

2937 Sierra Ct SW #Entire Building Neighborhood

Community

52240 (Iowa City) Demographics

28
Median Age
224
Population Density (per sq. mile)
56%
College Educated
$45,785
Estimated Median Income
7,800
Estimated Total Home Owners
7,498
Estimated Total Renters
51% / 49%
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.

2937 Sierra Ct SW #Entire Building 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.

2937 Sierra Ct SW #Entire Building Market Data

Based on the last 30 days in this zip code

$501,537
Average List Price
$238
Average Price per Square Foot
52
Properties Sold
76
Average Days on Market
201
Properties for Sale
Calculations provided by Reliance Network

2937 Sierra Ct SW #Entire Building History

Date Event Value Agent
5/13/2026Source: Iowa City MLS Status Change
Active
5/7/2026Source: Iowa City MLS Added to Database
May 07, 2026
Listing provided courtesy of Skogman Realty Co.- MLS# 202603021MLS Provider