1427 Milwaukee AveStorm Lake, IA 50588

Property Details for 1427 Milwaukee Ave

Year built

1965

Construction

FRAME

Lot size

4.83 AC

Property size (Sq ft)

1,248 SF

Property type

Medical offices

Property subtype

Medical centers

APN

10-33-453-008

APU

1033453008

Description

This exceptional single-story office building, located at 1427-1429 W Milwaukee Avenue in Storm Lake, Iowa, presents a unique investment opportunity. The property boasts 1,248 square feet of vacant, net rentable space, ideal for a variety of professional uses. Previously utilized as a medical clinic, the building is well-maintained and ready for immediate occupancy. Situated on a generous 4.83-acre lot, it offers ample space for expansion or future development. The strategic location on the main thoroughfare (Highway 7/W Milwaukee Avenue) ensures high visibility and accessibility. The property benefits from its proximity to numerous other businesses and the presence of Buena Vista University in Storm Lake. Built in 1965, this building offers a solid foundation for a new owner to establish their business or generate rental income. The asking price is $400,000, translating to $320.51 per square foot. This represents a compelling value in the Storm Lake commercial real estate market. The property's size and location make it an attractive option for businesses seeking a prominent presence in a thriving community. This is a rare opportunity to acquire a substantial office building in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $180,285

  6.5%

  $166,417

  7%

  $154,530

• Comparable approach

  Method

  Valuation

  Relative Method

  $63,698

  Geo Method

  $63,698

• Alternative Use

  Use

  Valuation

  Residential

  $206,357

  Hospitality

  $189,022

  Educational

  $157,264

  Medical

  $162,673

  Retail

  $244,633

Location Insight

City

Storm Lake

County

Buena Vista

State

Iowa

Latitude

42.65

Longitude

-95.2198

CBSA code

44740

CBSA name

STORM LAKE, IA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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