119 3Rd StKnoxville, IA 50138

Property Details for 119 3Rd St

Year built

1900

Lot size

0.03 AC

Property size (Sq ft)

2,400 SF

Property type

Retail space

APN

842766000

APU

842766000

Description

This 1,200 square foot commercial building is ideally situated on the east side of Knoxville's town square, offering exceptional visibility and accessibility. The property boasts C-4 zoning, providing flexibility for a variety of commercial uses. The interior features an open main area, a small upper loft at the rear, and a basement perfect for mechanicals or storage. Recent updates to the building's façade, including work completed in 2023, enhance its curb appeal. A covered/screened rear outdoor area provides additional space. Access to the upper level is via a shared stairway with former apartments, and a shared hallway with an adjoining building. The 0.03-acre lot provides ample space for the building and potential future expansion. Prospective buyers are responsible for conducting due diligence and working with the City of Knoxville to ensure compliance with all future usage requirements. All provided information is based on owner-supplied data and public records. This presents a unique opportunity to acquire a well-maintained commercial property in a thriving downtown location. The combination of its prime location, versatile layout, and recent updates makes this an attractive investment.

• CAP approach

  CAP return

  Valuation

  6%

  $661,316

  6.5%

  $610,446

  7%

  $566,843

• Comparable approach

  Method

  Valuation

  Relative Method

  $308,690

  Geo Method

  $308,690

• Alternative Use

  Use

  Valuation

  Residential

  $514,934

  Hospitality

  $471,677

  Educational

  $392,430

  Medical

  $405,926

  Retail

  $610,446

Location Insight

City

Knoxville

County

Marion

State

Iowa

Latitude

41.3183

Longitude

-93.0962

CBSA code

37800

CBSA name

PELLA, IA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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