210 N Main St - Drug Store FOR SALE


Clarion, IA 50525
$350,000 USD
515-450-0590
210 N Main St, Clarion, IA for Sale
$350,000 USD
Drug Store - FOR SALE
1/1
null | 11% Cap Rate

210 N Main St
Clarion, IA 50525


OVERVIEW

This commercial property is home to Thrifty White Pharmacy a powerful, regional chain w/ 91 stores. Clarion is the county seat for Wright County, pop. 12,644. Thrifty has Leased since 2013, current lease through March 2028 with a recent extension until March 2031. Tenant pays property taxes and repairs up to $400. Tenants have put in nearly $100,000 in recent upgrades including a new roof in 2018, repaired the back wall, electrical updated in 2021, new a/c unit in 2023, new back doors, and garage door in 2024. Income: Commercial 3400 sq/ft + 450sq/ft cold storage = $2,475/ mo Apartments: 2 units each unit approx. 1,200 sq/ft = $1,225/mo. Gross Rents: $44,400/yr. Expense: Insurance $2,400/yr Mgt fee $2,200/yr Maintenance $2,000/yr Total $6,600/yr Net $37,800/yr Based on $350,000 price/$37,800 NOI shows around 11% ROI

FOR SALE DETAILS

PRICE

$350,000 USD

PRICE/SF

$62 USD /SF

CAP RATE

11%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Thrifty White Pharmacy

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

SPRINKLERS

-

PARKING SPACES

36

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,661 SF

ZONING

C-1

APN/PARCEL ID

07-31-364-010

ASK ABOUT THIS PROPERTY

Mark GreenfieldRe/Max Real Estate CenterMore Info
515-450-0590

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Mark GreenfieldRe/Max Real Estate CenterMore Info
515-450-0590

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