215 State StAlgona, IA 50511

Property Details for 215 State St

Year built

1938

Lot size

0.07 AC

Property size (Sq ft)

2,582 SF

Property type

Office buildings

APN

22-02-456-014

APU

2202456014

Description

This attractive brick and wood-fronted commercial building in downtown Algona, Iowa, presents a fantastic investment opportunity. The property boasts approximately 2582 square feet of space, ideally suited for office or professional use. The main level features a welcoming reception/waiting area, four private offices (each measuring 11 x 13 feet), a meeting room (19 x 12 feet), a break room (14 x 9 feet), a half-bath, and ample storage. Additional storage is available in the basement. Recent updates include fresh paint in the reception area, hallway, and meeting room. The building sits on a 0.07-acre lot and offers convenient access to a public parking lot and alley via a rear entry/exit. The sale is contingent upon the existing tenant's lease agreement. This property is located at 215 E State Street, Algona, IA, and is priced at $100,000. The dimensions provided are approximate. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $425,026

  6.5%

  $392,331

  7%

  $364,308

• Comparable approach

  Method

  Valuation

  Relative Method

  $131,785

  Geo Method

  $131,785

• Alternative Use

  Use

  Valuation

  Residential

  $486,491

  Hospitality

  $445,623

  Educational

  $370,753

  Medical

  $383,504

  Retail

  $576,727

Location Insight

City

Algona

County

Kossuth

State

Iowa

Latitude

43.0692

Longitude

-94.2347

Property Tax & Assessments

FAQs

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