121 W Benton St., IowaCity, IA 52246

Property Description

Great passive income play in the heart of Iowa City. Situated along the W Benton Street corridor with strong visibility and easy access serving the University of Iowa community and surrounding neighborhoods. This is a true absolute NNN; tenant handles everything including taxes, insurance, HVAC, maintenance, and roof. Landlord just collects a check. Lease runs through July 2033 with two 10-year renewal options, so you're looking at a potential hold to 2053. Annual 2% rent bumps are baked in throughout the initial term and both extensions. Priced at $1,350,000 reflecting a 7.42% cap rate on current NOI. Good fit for a 1031 buyer or anyone looking for low-hassle NNN income in a stable university town market.