112 1St StCharlotte, IA 52731

Property Details for 112 1St St

Year built

2016

Construction

FRAME

Lot size

0.48 AC

Property size (Sq ft)

2,520 SF

Property type

Turn key restaurants

APN

6200540600

APU

6200540600

Description

This exceptional commercial property, located at 112 1st Street in Charlotte, Iowa, presents a unique investment opportunity. The 2,520 square foot building currently operates as a bar and grill, benefiting from a high volume of daily traffic, approximately 700 vehicles per day. Situated on a gently sloping 0.48-acre lot, the property boasts a pleasant green space with a shady area overlooking the building and an outdoor stage, offering significant potential for expansion or outdoor events. The sale includes most of the furniture, fixtures, and equipment (FF&E), with a detailed list available upon request. A convenient 10 x 12 storage shed is also included. The property's zoning is flexible, and the city's welcoming approach to development makes it suitable for a variety of uses beyond its current configuration. Potential alternative uses could include a convenience store, cafГ©, or even residential conversion, subject to necessary approvals. The asking price of $197,000 is below prior appraisals and assessments, representing a compelling value proposition for discerning investors.

• CAP approach

  CAP return

  Valuation

  6%

  $668,873

  6.5%

  $617,422

  7%

  $573,320

• Comparable approach

  Method

  Valuation

  Relative Method

  $644,713

  Geo Method

  $827,140

• Alternative Use

  Use

  Valuation

  Residential

  $520,818

  Hospitality

  $477,067

  Educational

  $396,914

  Medical

  $410,564

  Retail

  $617,422

Location Insight

City

Charlotte

County

Clinton

State

Iowa

Latitude

41.9607

Longitude

-90.4725

CBSA code

17540

CBSA name

CLINTON, IA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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