102 Iowa AveWashington, IA 52353

Property Details for 102 Iowa Ave

Year built

1910

Construction

FRAME

Lot size

0.06 AC

Property size (Sq ft)

1,980 SF

Property type

Office buildings

APN

11-17-338-001

APU

1117338001

Description

This exceptional five-story office building, situated at the heart of Washington, Iowa's vibrant downtown on the northeast corner of Washington Square, presents a unique investment opportunity. Originally constructed in 1912, this 16,768 square foot building boasts a prominent location within the city's retail, financial, and public gathering area. The building features a spacious layout with the first and second floors each encompassing 4,028 square feet, while the upper three floors offer 2,754 square feet each. Convenient elevator access serves all floors. Currently, the ground floor accommodates a blend of retail and office spaces, while the upper floors are dedicated to office use. While previously used as apartments, the top three floors are currently leased on a short-term basis, mirroring a similar arrangement for portions of the first and second floors. The property is zoned B-1 and sits on a 0.13-acre lot. The asking price is $700,000, translating to $47.71 per square foot. This presents a compelling opportunity to acquire a substantial, historically significant commercial property in a thriving Iowa community.

• CAP approach

  CAP return

  Valuation

  6%

  $529,732

  6.5%

  $488,984

  7%

  $454,056

• Comparable approach

  Method

  Valuation

  Relative Method

  $154,361

  Geo Method

  $154,361

• Alternative Use

  Use

  Valuation

  Residential

  $606,340

  Hospitality

  $555,404

  Educational

  $462,089

  Medical

  $477,981

  Retail

  $718,806

Location Insight

City

Washington

County

Washington

State

Iowa

Latitude

41.2992

Longitude

-91.6914

CBSA code

26980

CBSA name

IOWA CITY, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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