1800 BroadwayCouncil Bluffs, IA 51501
- Office buildings
- 0.40 AC
Property Details for 1800 Broadway
- Year built
- 1920
- Lot size
- 0.40 AC
- Zone code
- C-2
- Property type
- Office buildings
- APN
- 7544 26 389 008
- APU
- 754426389008
Description
This exceptional Council Bluffs investment property, located at 1800 W Broadway, presents a unique opportunity to acquire a multifamily building with significant upside potential. The property consists of two buildings totaling 16,360 square feet, constructed in 1920 and 1930, and extensively renovated in 2014. The buildings are situated on a 0.68-acre lot and feature 10 parking spaces. The property is zoned C-2 Commercial District, offering flexibility for various uses. The existing apartment units present a value-add opportunity through further updates, while the property's layout could accommodate two separate businesses. Adding to its appeal, a vacant lot is included in the purchase, providing ample space for future expansion or development, such as additional parking or a new building. The property boasts original charm blended with modern updates, including a basement with garage doors and outdoor deck and patio seating. Its location on a key thoroughfare in Council Bluffs, W Broadway Street, offers excellent visibility and access to local amenities. The asking price for this remarkable investment is $1,350,000. The property's APN numbers are 754426389008 and 754426389002. This is a rare opportunity to acquire a well-located, versatile property with significant growth potential in a thriving Iowa community.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $3,213,078
- 6.5%
- $2,965,918
- 7%
- $2,754,066
-
Comparable approach
- Method
- Valuation
- Relative Method
- $889,321
- Geo Method
- $889,321
-
Alternative Use
- Use
- Valuation
- Residential
- $3,677,738
- Hospitality
- $3,368,788
- Educational
- $2,802,792
- Medical
- $2,899,184
- Retail
- $4,359,899
Location Insight
- City
- Council Bluffs
- County
- Pottawattamie
- State
- Iowa
- Latitude
- 41.2622
- Longitude
- -95.8712
- CBSA code
- 36540
- CBSA name
- OMAHA-COUNCIL BLUFFS, NE-IA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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