116 Railroad StNorway, IA 52318

Property Details for 116 Railroad St

Year built

1880

Construction

FRAME

Lot size

0.13 AC

Property size (Sq ft)

2,936 SF

Property type

Bars

Property subtype

Pubs

APN

17000800

APU

17000800

Description

This fully furnished bar presents a unique investment opportunity in the thriving town of Norway, Iowa. Located at 116 Railroad Street E, this establishment is ready for immediate operation, requiring no additional setup or equipment purchases. The bar boasts ample seating to accommodate a substantial number of patrons, and includes all necessary equipment for smooth and efficient service. The property sits on a 0.13-acre lot and is ideally situated within the community of approximately 466 residents, offering a built-in customer base. Its strategic location provides easy access for customers from surrounding areas, including Cedar Rapids (approximately 25 minutes away), Iowa City (approximately 40 minutes away), Marion (approximately 30 minutes away), and Coralville (approximately 35 minutes away). The proximity to Frontier Co-op, a major local employer with approximately 550 employees across its Norway and nearby sites, ensures a consistent flow of potential customers from the workforce. This turnkey operation offers a rare chance to own a profitable business in a welcoming community with convenient access to major roadways and a strong local economy. The asking price for this exceptional opportunity is $91,562. This includes all existing furniture, fixtures, and equipment. The property is ready for a new owner to step in and begin generating revenue immediately. Don't miss this chance to own a successful, established business in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $710,448

  6.5%

  $655,798

  7%

  $608,955

• Comparable approach

  Method

  Valuation

  Relative Method

  $377,631

  Geo Method

  $377,631

• Alternative Use

  Use

  Valuation

  Residential

  $553,190

  Hospitality

  $506,719

  Educational

  $421,585

  Medical

  $436,083

  Retail

  $655,798

Location Insight

City

Norway

County

Benton

State

Iowa

Latitude

41.9029

Longitude

-91.9207

CBSA code

16300

CBSA name

CEDAR RAPIDS, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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