Retail L Iowa

Marcus & Millichap sells Applebee's near University of Iowa

Marcus & Millichap recently sold a 4,370-square-foot net-leased Applebee’s property in Coralville, Iowa. The asset went from contract to sold in 61 days and closed at 98 percent of list price at $1.475 million.

Joseph Bono, Austin Weisenbeck and Sean Sharko, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed the property on behalf of the seller, a limited liability company. The buyer, a private investor, was secured and represented by Alvin Mansour and Kevin Mansour, investment specialists in Marcus & Millichap’s San Diego office. Barry A’Hearn assisted on the transaction as the broker of record in Iowa.

Located at 200 12th Ave. in Coralville on a hard corner, the property is one mile from the University of Iowa, where more than 33,000 students are enrolled.