1501 1St AveNewton, IA 50208

Property Details for 1501 1St Ave

Year built

2007

Lot size

14.22 AC

Property size (Sq ft)

66,500 SF

Property type

Grocery and convenience stores

APN

835151013

APU

835151013

Description

This exceptional commercial development opportunity encompasses approximately 1.22 to 1.44 acres of land strategically located in Newton, Iowa, at 1501 1st Avenue E, zip code 50208. The property is situated in Jasper County and offers excellent visibility and accessibility. The land is divided into two parcels. Parcel A boasts frontage on Highway 6 and is directly adjacent to the Hy-Vee Fast N Fresh store. Parcel B is located immediately behind the Hy-Vee Fast N Fresh, sharing a border with the store's parking lot. This prime location benefits from its proximity to a major grocery retailer, ensuring high traffic volume and excellent exposure for any commercial venture. The site is part of a thriving retail corridor, characterized by good visibility and a signalized intersection, further enhancing its appeal to potential developers. The asking price for this exceptional property is $399,900. This presents a unique chance to establish a business in a high-traffic area with strong existing infrastructure. The property's location adjacent to a well-established Hy-Vee store makes it an ideal site for complementary businesses or retail development.

• CAP approach

  CAP return

  Valuation

  6%

  $17,048,040

  6.5%

  $15,736,653

  7%

  $14,612,606

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,553,283

  Geo Method

  $8,553,283

• Alternative Use

  Use

  Valuation

  Residential

  $13,274,455

  Hospitality

  $12,159,330

  Educational

  $10,116,420

  Medical

  $10,464,339

  Retail

  $15,736,653

Location Insight

City

Newton

County

Jasper

State

Iowa

Latitude

41.6975

Longitude

-93.0341

CBSA code

19780

CBSA name

DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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