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$ 225,000
Est. payment | /mo
3,371 Sqft Lot
$ 225,000
Est. payment | /mo
3,371 Sqft Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 724926
HOA Y/N No
Year Built 1900
Annual Tax Amount $3,300
Tax Year 2024
Lot Size 3,371 Sqft
Acres 0.0774
Property Description
Discover a remarkable investment opportunity located on Main Street in the heart of downtown Grinnell. This property boasts two well-established tenants: one commercial entity and one professional office. Both tenants have active leases in place. The building has been well maintained over the years. The first-floor retail and professional office spaces are tastefully decorated, featuring zero entry access to both ground-level spaces. The upstairs is presently vacant and includes a separate street level entrance, separate utilities, and could be office space, or repurposed to someone's best use. A new rubber roof was installed in 2023. In 2004, a significant $250,000 facade restoration was completed in collaboration with the city program. Each tenant benefits from their own water, gas, and electric meters. The furnaces and AC units are relatively new, and each of the three spaces have their own breaker panels. Additionally, there is a basement beneath both 907 Main Street and 909 Main Street, featuring cement floors, currently utilized for storing seasonal supplies, extra inventory, and business records. The two buildings presently generate two income streams, providing excellent cash flow. If you're aiming to diversify your investment portfolio, I highly recommend considering this commercial opportunity.
Location
State IA
County Poweshiek
Area Grinnell
Zoning C
Interior
Heating Electric, Forced Air, Gas, Natural Gas
Cooling Central Air
Flooring Carpet
Fireplace No
Exterior
Roof Type Rubber
Private Pool No
Building
Lot Description Rectangular Lot
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
Schools
School District Grinnellnewburg
Others
Tax ID 1800788600
Monthly Total Fees $275
Acceptable Financing Cash, Conventional, See Remarks
Listing Terms Cash, Conventional, See Remarks
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Listed by Ramsey Weeks Real Estate
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Brenda Zobel-Moody