2709 Briggs AveFairfield, IA 52556

Property Details for 2709 Briggs Ave

Year built

1968

Lot size

1.27 AC

Property size (Sq ft)

7,780 SF

Property type

Office buildings

APN

06-27-402-003

APU

627402003

Description

This exceptional 7,780 square foot commercial property, situated on a 1.27-acre lot at 2709 W Briggs Avenue in Fairfield, IA, presents a rare investment opportunity. The beautifully renovated building boasts four separate en-suite units, each with independent utility connections, providing flexibility for owner-occupancy and rental income. Each unit offers individual office space, some with reception areas, private bathrooms, and open areas, catering to diverse business needs. Access to each unit is convenient via stairs and ramps, with ample parking available both in front and rear of the building, including secondary entrances. Street signage is provided for each tenant. The building's prime location ensures high visibility, close proximity to retail and restaurants, and easy accessibility from busy thoroughfares. A spacious, poured concrete basement, accessible through a shared rear hallway, offers additional versatile space for storage or expansion. All systems and spaces have undergone recent updates, tailored to meet the needs of current tenants. Currently, all four units are independently occupied, with Ensuite #1 becoming vacant December 1, 2024. Existing leases and tenant rights will transfer to the new owner. This property offers a compelling combination of income generation and potential for future growth. A 24-hour notice is required for showings of each individual space. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $2,081,473

  6.5%

  $1,921,359

  7%

  $1,784,119

• Comparable approach

  Method

  Valuation

  Relative Method

  $606,529

  Geo Method

  $606,529

• Alternative Use

  Use

  Valuation

  Residential

  $2,382,486

  Hospitality

  $2,182,344

  Educational

  $1,815,685

  Medical

  $1,878,129

  Retail

  $2,824,398

Location Insight

City

Fairfield

County

Jefferson

State

Iowa

Latitude

41.0088

Longitude

-91.9943

CBSA code

21840

CBSA name

FAIRFIELD, IA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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