$234,900

MLS ID #: 20223811
SqFt
6,358 ft2
SqFt
6,358 ft2
Acres
0.17
Here is a wonderful investment property currently being used for retail and storage space rental. The front two retail spaces are used by a hair salon and a yoga and fitness studio. Both are long term tenants and are currently under two year leases. The rear areas of the building are used for large storage units, additional retail areas, or workshop spaces. The current owner does not advertise or use a rental manager to market these storage units so there are eight units that are still available to be leased. This would make for some good upside rental income or a new owner could use these spaces for their own use. Many significant improvements to the building have been recently done including a complete new 50 year rubber membrane roof, one new furnace, some significant electrical upgrades allowing for all of the retail areas to be separately metered, and some modern decorating. Step right in and take over this income producing property that is in excellent condition. Use some of the spaces yourself or use as a complete rental for nice monthly income.

Property Details

MLS ID #:
20223811

Property Address:
720 Main St
Osage, IA 50461

County:
Mitchell

Region:
Outside the Metro Area

Location:
Downtown

Miles to Highway:
9 & 218

Property Type:
Commercial

Sub-Type:
Office/Retail

Building Description:
1 Story, Basement, Multi-Tenant

Insulation:
Unknown

Date Listed:
August 9th, 2022

Status:
Active

Price:
$234,900.00

Ownership:
Individual

Possession:
At Closing, Immediate, Negotiable, Subject to Tenant Right

Gross Taxes:
$2,774.00

Tax Year:
2022

Tax Incentives:
In City Limit

Gross Op Income:
$15,480.00 Actual

Net Op Income:
$11,110.00 Actual

Gross Op Expense:
$4,370.00 Actual

Multi-Tenant:
Yes

Tenant Pays:
Internal Maintenance, Common Area Maintenance, Janitorial, Trash, Snow/Lawn, Gas, Electric, Heating, Cooling, Water/Sewer

Possible Financing:
Cash Convention, Subject to Tenants Rights

Sale/Rent:
For Sale

For Lease:
Yes

Terms/Lease:
2 Years, Month to Month, Yearly

Options:
Exchange

Lease Type:
Gross

Sale/Lease Type:
Normal Sale

Lease $/Month:
$1,290.00

For Sale:
Yes

Ivestment:
Yes

Avail at List Office:
Lease(s), Legal Description, Aerial Photo

Zoning:
C-CBD

Potential Use:
Office, Other Potential Uses, Retail

Restrict/Easements:
Unknown

Legal Desc:
Except the North 1/2 of East 1/3, Lot 3 in Block 156 District E of the City of Osage, Mitchell County, Iowa.

Garage(s):
Yes

Drive-In Doors:
3

Amenities:
Fiber Optics, Wireless Internet

Included:
Building

Total Avail Sq Ft:
6,358 sq ft

Total Building Sq Ft:
6,358 sq ft

Warehouse SqFt:
3,500 sq ft

Office SqFt:
2,858 sq ft

Retail SqFt:
2,858 sq ft

Lot Sq Footage:
7,260

Acres:
0.17

Misc:
Close to Shopping, Pets Approved

Frontage/Access:
Inside Lot, City Street, Paved 4 Lane, State Road

Exterior:
Concrete, Steel

Roof Construction:
Membrane, Sloped

Wall Construction:
Block, Brick, Frame, Steel/WD Frame

Floor Construction:
Carpeted, Concrete, Tile/Vinyl, Wood

Common Area:
Yes

Utilities Available:
Electric, Fiber Optics, Gas, Phone, Sewer, Water

Sewer Type:
City Sewer

Heating:
Forced Air, Gas, Electric, Individual Units

Cooling:
Central, Individual Control, Individual Units

Realtor/Equal Housing Lender Listing provided courtesy of Kolbet Realtors.
Listing Agent: Philip Kolbet
IDX data comes from the Northeast Iowa Regional Board of Realtors®. IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS.

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