403 Main StBelmond, IA 50421

Property Details for 403 Main St

Year built

1979

Lot size

0.30 AC

Property size (Sq ft)

12,168 SF

Property type

Bars

Property subtype

Pubs

APN

04-30-111-019

APU

430111019

Description

This exceptional 12,168 square foot commercial property, located at 403 E Main Street in Belmond, Iowa, presents a unique investment opportunity. Situated on a 0.3-acre lot, this building has been completely renovated and transformed into a premier event and music venue. Previously a thriving meat and grocery market, the property underwent a significant transformation during the pandemic. The current owner meticulously updated the space, creating a state-of-the-art facility ideal for a wide range of events. Improvements include a brand-new sound system, updated lighting, and completely remodeled bathrooms. High-quality finishes throughout contribute to the overall upscale feel. The venue is currently booked for various family events throughout the summer of 2024, demonstrating strong existing demand and potential for continued success. This turnkey operation offers immediate income potential and a rare opportunity to own a fully equipped, high-quality event center in a desirable location. The asking price is $875,000. This property is ready for a new owner to continue its success story. The building's history as a well-established local business adds to its appeal and provides a strong foundation for future growth. The ample square footage allows for diverse event configurations, catering to a broad range of clients and events.

• CAP approach

  CAP return

  Valuation

  6%

  $2,944,391

  6.5%

  $2,717,899

  7%

  $2,523,764

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,565,058

  Geo Method

  $1,565,058

• Alternative Use

  Use

  Valuation

  Residential

  $2,292,650

  Hospitality

  $2,100,055

  Educational

  $1,747,221

  Medical

  $1,807,310

  Retail

  $2,717,899

Location Insight

City

Belmond

County

Wright

State

Iowa

Latitude

42.8462

Longitude

-93.6127

Property Tax & Assessments

FAQs

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