112 2Nd AveNewton, IA 50208

Property Details for 112 2Nd Ave

Year built

1910

Lot size

0.07 AC

Property size (Sq ft)

4,240 SF

Property type

Office buildings

APN

834134011

APU

834134011

Description

This exceptional commercial property in Newton, Iowa, presents a unique investment opportunity. Located in a prime downtown location at 112 N 2nd Avenue W, this turnkey operation offers over 6,204 square feet on a 0.1-acre lot. The building features sixteen beautifully appointed rental suites spread across two floors, providing a consistent income stream. Each suite is designed for maximum comfort and functionality, catering to a diverse range of tenants. Adding to its appeal is a luxurious, private 2-bedroom living space situated on the third floor. This expansive residence boasts a stunning soak tub, a spacious living room perfect for relaxation, a formal dining area ideal for entertaining, and a fully equipped kitchen with built-in appliances. The combination of income-generating rental suites and a high-end residential space creates a versatile and attractive investment. The property benefits from an established trademark brand, further enhancing its value and marketability. This is a rare opportunity to acquire a well-established, high-performing commercial property in a desirable downtown location. The asking price is $799,000.

• CAP approach

  CAP return

  Valuation

  6%

  $612,508

  6.5%

  $565,392

  7%

  $525,007

• Comparable approach

  Method

  Valuation

  Relative Method

  $216,410

  Geo Method

  $216,410

• Alternative Use

  Use

  Valuation

  Residential

  $701,086

  Hospitality

  $642,191

  Educational

  $534,295

  Medical

  $552,671

  Retail

  $831,126

Location Insight

City

Newton

County

Jasper

State

Iowa

Latitude

41.7008

Longitude

-93.053

CBSA code

19780

CBSA name

DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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