223 Central AveClarion, IA 50525

Property Details for 223 Central Ave

Year built

1947

Lot size

0.17 AC

Property size (Sq ft)

2,508 SF

Property type

Office buildings

APN

07-31-367-003

APU

731367003

Description

This exceptional 2,508 square foot office building, situated on a 0.17-acre lot at 223 Central Avenue West in Clarion, Iowa, presents a remarkable opportunity. Ideally located at the heart of Wright County, directly on Highway 3, this property boasts high visibility and accessibility. Substantial updates have been implemented within the last decade, ensuring modern functionality and appeal. The building's versatile design lends itself to a variety of uses, including office space, retail ventures, or as an income-generating property. Its adaptable layout allows for division into two separate rental units, or utilization as a single cohesive space. One side features five offices, a large lobby/waiting area, and a spacious bathroom, while the second area includes a separate office, bathroom, and its own lobby/waiting area. All doorways measure 36 inches, and both bathrooms are designed for wheelchair accessibility, promoting inclusivity and convenience. Currently, the property is available for both sale and lease, offering flexibility for potential buyers and tenants. This prime location and adaptable space make it an exceptional investment opportunity with significant potential for return.

• CAP approach

  CAP return

  Valuation

  6%

  $412,844

  6.5%

  $381,087

  7%

  $353,867

• Comparable approach

  Method

  Valuation

  Relative Method

  $128,008

  Geo Method

  $128,008

• Alternative Use

  Use

  Valuation

  Residential

  $472,548

  Hospitality

  $432,852

  Educational

  $360,127

  Medical

  $372,513

  Retail

  $560,198

Location Insight

City

Clarion

County

Wright

State

Iowa

Latitude

42.7318

Longitude

-93.7351

Property Tax & Assessments

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