111 NW 2ND ST, Stuart, IA 50250 - Property for Sale
Available For Sale - Multifamily
19,000 SF
|
Show Pricing $
AVAILABILITY DETAILS
- Size
- 19,000 SF
- Price/SF
-
Show Pricing $
- Listing ID
- SA473023
- Notes
- ONCE IN A LIFETIME OPPORTUNITY
HISTORIC DOWNTOWN STUART CLOCKTOWER - LIVE/WORK multi-use - 30min from the DSM Airport.
Growth is expanding rapidly west from DSM - Stuart itself has seem rapid growth the past 15mo.
STRUCTURAL REPORT AVAILABLE
APX. 19,000+ sQft [buyer to verify]. SUBSTANTIAL PRICE REDUCTION
Current NOi is 33k/year [w/the current vacancies]
COMMERCIAL:
Potential full building income, 11k to 14k / month
FOR THE INVESTOR TYPE OF BUYER - PLEASE NOTE:
The clocktower is on the national historic registry. It is eligible for major funding and tax credits in this state. You could look this up easily.
Also; In Iowa, historic registry buildings as far as major changes/construction go have almost none of the code requirements that other non-historic building have. These facts/information would mean ANY project you do here may cost you nothing in the end.. and your ‘renovation numbers’ may have ‘0’ relevance to buying this building. The building as it sits needs nothing major. It is a "TURN-KEY" property.
5 LEVEL [full basement] Building.
Building elevator
TONS OF POWER for any projected use.
CLOCK is fully functional
Current Use - owner occupied. Building is mostly leased [lots of excess income].
3rd & 4th floor - apartments [apx. 6000sQft]
2nd floor - professional offices [apx. 4000 sQft]
1st floor - store fronts [500 and 2900 sQft - 17ft ceiling + 900 sQft rear utility space]
Fully used basement [apx. 3500 sQft 8.5ft ceiling]
Insurance replacement value: 2.8 million.
{{A 50x80 next-door open lot [CURRENT USE garden and parking] is available for purchase. It is a separate property sale - negotiable}}
PROPERTY IS PRICED WELL BELOW VALUE.
Serious buyers only. {{Second contact: Barbara. 515.423.3389}}
- Uses
- Multifamily
Other Availability in this Property
| Space/Suite | Square Feet | Type | Uses | Asking Rent/Price | ||
|---|---|---|---|---|---|---|
| 1st Fl. west | 2,700 SF | Lease | Retail | Show Pricing $ | chevron_right | |
| 2nd floor | 2,200 SF | Lease | Office | Show Pricing $ | chevron_right |
This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.
Listing provided courtesy of
David Wood
David Wood
