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101 E Jefferson St 3,380 SF 60% Leased Office Building Winterset, IA 50273 $399,500 ($118.20/SF)
Investment Highlights
- Off-street parking lot
- Main floor office/reception space recently renovated
- Basement with renovation potential
Executive Summary
Unique opportunity to own an historic building in a prime location on Winterset's bustling town square. Originally built as a bank, the all-brick and concrete building is solid and in excellent condition. Most of the original 1913 woodwork has been preserved with modern updates throughout. Currently used as office space, the property has potential for retail as well. The main floor houses 5 offices, a lobby/reception area, kitchenette, original bank vault, updated bathroom and two exterior accesses, including a ramp. The second story has 6 offices and a bathroom with separate access from the street. The basement offers storage on one side. The other side is an old bathhouse with street access. This space is in need of renovation, but has a full mosaic tile floor in beautiful condition. Newer furnaces (2) and a/c. Included with the property is off-street parking, a huge asset. Partially rented with ample opportunity for additional income. This building is on the registry of National Historic Places. Just 30 miles to Des Moines, Winterset is the county seat and boasts a viable work force and ample tourism to its charming square, covered bridges and the John Wayne Birthplace museum. All information obtained from seller and public records.
Current rental income is $2150/ mo with tenants on a month-to-month lease. Additional space is available.
Current rental income is $2150/ mo with tenants on a month-to-month lease. Additional space is available.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
3,380 SF
Building Class
C
Year Built
1913
Price
$399,500
Price Per SF
$118.20
Percent Leased
60%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
1,127 SF
Building FAR
0.63
Lot Size
0.12 AC
Opportunity Zone
Yes
Zoning
Commercial - Parcel number: 828000112020000
Amenities
- 24 Hour Access
- Reception
- Storage Space
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Real Estate
- -
- -
- -
RE/MAX began in 1973 when Dave Liniger and Gail Main founded the company in Colorado with a model that gave productive agents more independence and a different commission structure. The company now franchises real estate brokerages globally under the RE/MAX brand and mortgage brokerages in the U.S. under Motto Mortgage, while also providing ancillary products and services through wemlo. RE/MAX supports residential, commercial, and luxury real estate activity through independently owned and operated offices and a broad network of agents across many countries and territories.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Real Estate | - | - | - |
Moderately walkable
70/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $392,500 | |
| Land Assessment | $62,800 | Total Assessment | $455,300 |
Property Taxes
Parcel Numbers
Land Assessment
$62,800
Improvements Assessment
$392,500
Total Assessment
$455,300
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Contact the Sale Advisor
101 E Jefferson St