121 E Fifth St - Office/Residential FOR SALE


Storm Lake, IA 50588
$350,000 USD
319-981-2983
121 E Fifth St, Storm Lake, IA for Sale
$350,000 USD
Office/Residential - FOR SALE
1/22
null | Request Cap Rate

121 E Fifth St
Storm Lake, IA 50588


OVERVIEW

This Quality Commercial building features 13,644 sq.ft. of office area plus a finished basement with an additional 3,196 sq.ft. This property has been a fixture in this community since 1972. The main floor includes 10 offices, 2 restrooms, and a large lobby/ work station area. On the second floor there are 7 additional offices, a large conference room, a kitchen area, 4 restrooms, and a large work station area. The finished basement includes a kitchen area, work station area, 1 office, a restroom, and mechanical/storage rooms. There is a deed restriction preventing the property from being used for any banking or insurance purposes. This property could be converted to apartments or condos and the state of Iowa has had Grants and Tax credit programs available to offset the cost. Gross Real Estate Taxes shown in listing are based on the 2022 assessed value of $887,480. The 2023 assessed value of this property is $545,340! Also included with this property is the concrete parking lot to the north of the building.

FOR SALE DETAILS

PRICE

$350,000 USD

PRICE/SF

$22 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1972

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.4 AC

LAND SF

17,559 SF

ZONING

-

APN/PARCEL ID

14-03-208-012

ASK ABOUT THIS PROPERTY

Gary DoerrfeldColdwell Banker Hedges RealtyMore Info
319-981-2983

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Gary DoerrfeldColdwell Banker Hedges RealtyMore Info
319-981-2983

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.