50 2Nd StFairfield, IA 52556

Property Details for 50 2Nd St

Year built

1920

Lot size

0.08 AC

Property size (Sq ft)

4,114 SF

Property type

Turn key restaurants

APN

06-25-311-007

APU

625311007

Description

This exceptional 4,114 square foot commercial building, situated on a 0.09-acre lot at 50 S 2nd Street in Fairfield, IA, presents a unique investment opportunity. Boasting high visibility from Highway 34 and direct frontage on Highway 1, this property offers significant exposure for any business. The main level currently houses a restaurant, complete with an entry area, a spacious dining area with seating for 65-70 patrons, a well-equipped serving and register area, a functional kitchen, ample storage, and restrooms. The upper level presents versatile space, suitable for conversion into a two- to three-bedroom apartment (requiring kitchen installation) or as an office space, depending on the buyer's needs. A substantial basement provides extensive storage capacity. Convenient public parking is readily available, supplemented by ample off-street parking directly adjacent to the property and across from a municipal parking lot. Priced at $275,000, this property offers a compelling blend of established commercial space and significant development potential, making it an ideal acquisition for a savvy investor or entrepreneur. The east-facing orientation ensures excellent natural light throughout the building. This is a rare opportunity to own a well-located commercial property with multiple income streams.

• CAP approach

  CAP return

  Valuation

  6%

  $1,617,978

  6.5%

  $1,493,519

  7%

  $1,386,839

• Comparable approach

  Method

  Valuation

  Relative Method

  $808,233

  Geo Method

  $808,233

• Alternative Use

  Use

  Valuation

  Residential

  $1,259,839

  Hospitality

  $1,154,006

  Educational

  $960,119

  Medical

  $993,139

  Retail

  $1,493,519

Location Insight

City

Fairfield

County

Jefferson

State

Iowa

Latitude

41.0071

Longitude

-91.9654

CBSA code

21840

CBSA name

FAIRFIELD, IA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].