323 Reed StRed Oak, IA 51566

Property Details for 323 Reed St

Year built

1880

Lot size

0.77 AC

Property size (Sq ft)

14,729 SF

Property type

Banks

APN

600628162017000

APU

600628162017000

Description

This exceptional investment opportunity presents a historic two-story bank building located at 323 E Reed St in Red Oak, Iowa. Boasting 7,655 square feet, this single-unit property is situated on a highly visible corner lot directly across from the Montgomery County Courthouse, offering unparalleled exposure and accessibility. Built in 1880 and renovated in 1960, the building presents a blend of historical charm and updated functionality. The asking price is $350,000, translating to a price per square foot of $45.72. The property includes a dedicated on-site parking lot, a significant advantage in a high-traffic area. This prime location, combined with the building's substantial size and historical significance, makes it an ideal investment for a variety of uses. The property's convenient location and ample parking make it an attractive option for businesses seeking high visibility and accessibility. The building's history and unique character offer a compelling opportunity for adaptive reuse or continued operation as a financial institution. Serious inquiries are encouraged to explore the potential of this remarkable property. The zip code is 51566.

• CAP approach

  CAP return

  Valuation

  6%

  $3,476,082

  6.5%

  $3,208,692

  7%

  $2,979,499

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,894,456

  Geo Method

  $1,894,456

• Alternative Use

  Use

  Valuation

  Residential

  $2,706,651

  Hospitality

  $2,479,278

  Educational

  $2,062,730

  Medical

  $2,133,671

  Retail

  $3,208,692

Location Insight

City

Red Oak

County

Montgomery

State

Iowa

Latitude

41.0102

Longitude

-95.2284

Property Tax & Assessments

FAQs

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