437 7Th StWapello, IA 52653

Property Details for 437 7Th St

Year built

1978

Lot size

0.32 AC

Property size (Sq ft)

3,200 SF

Property type

Office buildings

APN

08-34-129-005

APU

834129005

Description

This exceptional 3,200 square foot commercial building presents a compelling investment opportunity in Wapello, Iowa. Located on a 0.78-acre lot with high visibility from Highway 61, the property boasts a strong, active lease generating $4,572 per month, secured until December 2026. This provides a consistent and substantial income stream for the investor. The well-maintained building is currently configured as an office space, but its versatile design lends itself to a wide range of alternative uses. Potential uses include, but are not limited to, a church, daycare center, school, dance studio, retail space, community center, or even a restaurant/bar with appropriate modifications. The ample parking lot adds significant convenience for tenants and patrons. The property's prime location and adaptable layout offer considerable flexibility and potential for future growth, making it an attractive investment for discerning buyers seeking a stable income and diverse usage options. The building's current configuration and existing lease provide immediate return on investment, while the adaptable space allows for future expansion and diversification of income streams. This is a rare opportunity to acquire a well-located, income-generating property with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $856,133

  6.5%

  $790,276

  7%

  $733,828

• Comparable approach

  Method

  Valuation

  Relative Method

  $249,472

  Geo Method

  $249,472

• Alternative Use

  Use

  Valuation

  Residential

  $979,943

  Hospitality

  $897,622

  Educational

  $746,811

  Medical

  $772,495

  Retail

  $1,161,706

Location Insight

City

Wapello

County

Louisa

State

Iowa

Latitude

41.1734

Longitude

-91.1885

CBSA code

34700

CBSA name

MUSCATINE, IA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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