914 Main StGrinnell, IA 50112

Property Details for 914 Main St

Year built

1899

Lot size

0.36 AC

Property size (Sq ft)

19,674 SF

Property type

Retail space

APN

103000

APU

103000

Description

This exceptional investment opportunity encompasses a portfolio of two properties in Grinnell, Iowa, totaling 25 units. The first, a mixed-use building situated on Main Street, features eight residential units (two one-bedroom, five two-bedroom, and one three-bedroom) and three commercial suites. Conveniently located on the main floor, these commercial spaces offer significant income potential. Residents enjoy eight dedicated parking spaces, and a coin-operated laundry facility adds to the property's revenue stream. The second property, Sunset Apartments, comprises fourteen two-bedroom residential units and eight garage spaces. This building also includes a tenant-accessible coin-operated laundry. Approximately 24 parking spaces are available for residents of Sunset Apartments. Both buildings offer significant potential for rental income and appreciation. The total land area for the portfolio is 1.12 acres. The asking price for this entire portfolio is $1,650,000. An offering memorandum is available upon request, and a letter of intent is required before any property showings can be scheduled. This is a rare opportunity to acquire a substantial multifamily and commercial property portfolio in a desirable Iowa location. Don't miss out on this chance to expand your investment portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $4,760,679

  6.5%

  $4,394,473

  7%

  $4,080,582

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,530,486

  Geo Method

  $2,530,486

• Alternative Use

  Use

  Valuation

  Residential

  $3,706,902

  Hospitality

  $3,395,503

  Educational

  $2,825,018

  Medical

  $2,922,175

  Retail

  $4,394,473

Location Insight

City

Grinnell

County

Poweshiek

State

Iowa

Latitude

41.7438

Longitude

-92.7253

Property Tax & Assessments

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