Capitol St 850 S Capitol St

This 1.65 acres is the potential site for the next near downtown apartment building! The location is right at the NEC of S. Capitol St. & E. Benton St., just 7 blocks from the Old Capitol building, the core of downtown Iowa City & the center of the University of Iowa campus. Traffic on E. Benton is 9,900 cars per day. It's priced at $7,000,000 which is just under $100 per foot for land cost. It is comprised of two lots plus the former CRANDIC Railroad ROW which has been abandoned & included with this site. It is located in the Riverfront Crossings district with a form-based zone code allowing appropriate housing densities & parking requirements. More information on the Riverfront Crossings development plan is available on the City of Iowa City website at: https://www.icgov.org/government/advanced-components/misc-pages/search?q=riverfront%20crossings. There is currently a single-story commercial / office building on this site at 850 S. Capitol Street. The lot and building at 804 S. Capitol Street are not included in this offering, but is listed for sale and can be added to complete a nice building site. The price of 804 Capitol is $1,000,000. The value of this offering is in the land for future development and the pricing compares well with other parcels that have been developed and are under development near this site and in the Riverfront Crossing district.