520 Pierce AveMason City, IA 50401

Property Details for 520 Pierce Ave

Lot size

0.30 AC

Property type

Commercial real estate

APN

70842601600

APU

70842601600

Description

This exceptional value-add investment opportunity presents a 26,015 square foot, two-story office building situated on a 0.94-acre lot at 520 S Pierce Ave, Mason City, IA 50401. The property, built in 1973, is currently undergoing a revitalization phase following the departure of a long-term tenant. This presents a unique chance for an investor to capitalize on the existing infrastructure and strong tenant base. The building features a multi-tenant occupancy with thirteen current tenants, many of whom have established long-term leases. The property is zoned Z4 and offers significant potential for a new user to occupy approximately 5,000 square feet, creating a substantial investment property. The building itself is exceptionally well-maintained, reflecting a commitment to quality and longevity. This is a prime opportunity to acquire a strategically located office building in Mason City, Iowa, south of MercyOne, with the potential for significant returns on investment. The asking price for this traditional office building is $1,100,000. The lease type is modified, offering flexibility for the new owner. This is a rare chance to acquire a well-positioned asset in a growing market.

• Alternative Use

  Use

  Valuation

  Residential

  $2,437,542

  Hospitality

  $2,232,775

  Educational

  $1,857,643

  Medical

  $1,921,530

  Retail

  $2,889,666

Location Insight

City

Mason City

County

Cerro Gordo

State

Iowa

Latitude

43.1471

Longitude

-93.2216

CBSA code

32380

CBSA name

MASON CITY, IA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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