107 Salem AveIndianola, IA 50125

Property Details for 107 Salem Ave

Year built

1900

Lot size

0.05 AC

Property size (Sq ft)

2,178 SF

Property type

Turn key restaurants

APN

48020180090

APU

48020180090

Description

This exceptional mixed-use property, located at 107 W Salem Avenue in the desirable Indianola Square, presents a unique investment opportunity. The building boasts a substantial 6,640 square feet of commercial space, ideally suited for a variety of businesses. The commercial area features separate utilities (water, gas, and electric), three half-bathrooms, one three-quarter bathroom, and a dedicated office. The layout allows for customization and expansion, with potential for additional rental units given the back alley access. Adding to its appeal are two residential units: a studio apartment and a larger two-bedroom apartment, each with a full bathroom. These units share a convenient laundry facility. The residential units are all-electric with window air conditioning. Furthermore, the third level of the commercial space offers significant potential for conversion into an additional studio apartment, further enhancing the property's income-generating capabilities. The property sits on a 0.13-acre lot, providing ample space and accessibility. Priced at $315,000, this property offers a compelling blend of commercial and residential income streams, making it an attractive addition to any investment portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $558,386

  6.5%

  $515,433

  7%

  $478,617

• Comparable approach

  Method

  Valuation

  Relative Method

  $280,136

  Geo Method

  $280,136

• Alternative Use

  Use

  Valuation

  Residential

  $434,787

  Hospitality

  $398,263

  Educational

  $331,350

  Medical

  $342,746

  Retail

  $515,433

Location Insight

City

Indianola

County

Warren

State

Iowa

Latitude

41.3601

Longitude

-93.5606

CBSA code

19780

CBSA name

DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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