209 Montgomery StCreston, IA 50801

Property Details for 209 Montgomery St

Year built

1904

Lot size

0.11 AC

Property size (Sq ft)

5,390 SF

Property type

Retail space

APN

501457006

APU

501457006

Description

This exceptional commercial property at 209 W Montgomery Street in Creston, Iowa, presents a unique investment opportunity. Boasting a substantial 7,566 square feet of space, this solid freestanding brick building offers significant versatility. The main level encompasses a generous 3,486 square feet, ideal for a variety of commercial uses. A partially finished lower level provides additional space, while the unfinished upper level is perfectly suited for conversion into residential apartments, subject to necessary permits and approvals. Recent improvements include a new heating system and the installation of a sump pump, enhancing both functionality and value. The roof features a durable rubber membrane. The property includes several convenient off-street parking spaces located at the rear of the building, adjacent to a loading dock. Additional parking is readily available in a nearby city parking lot, just half a block away. The main level offers zero-entry accessibility. The building is being sold "as is," with only fixed items included. This property's combination of size, location, and recent updates makes it an attractive proposition for savvy investors seeking a versatile commercial space with significant upside potential in a thriving Iowa community. The 0.11-acre lot provides ample space for the building and parking.

• CAP approach

  CAP return

  Valuation

  6%

  $1,388,171

  6.5%

  $1,281,388

  7%

  $1,189,861

• Comparable approach

  Method

  Valuation

  Relative Method

  $693,266

  Geo Method

  $693,266

• Alternative Use

  Use

  Valuation

  Residential

  $1,080,899

  Hospitality

  $990,098

  Educational

  $823,750

  Medical

  $852,080

  Retail

  $1,281,388

Location Insight

City

Creston

County

Union

State

Iowa

Latitude

41.0588

Longitude

-94.3634

Property Tax & Assessments

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