Shoenaur Building 112-116 E Court Ave 9,960 SF 100% Leased Retail Building Winterset, IA 50273 $875,000 ($87.85/SF) 7.41% Cap Rate

Excellent opportunity to own a commercial investment property in the wonderful community of Winterset. The property is leased with three commercial tenants on the first floor and four residential apartments on the second floor. It features strong annual revenue and a healthy capitalization rate. High traffic and visibility. The properties include a one-story warehouse on the back (south) side of the buildings. This area has been used for storage. The building is located across the street from the historic town square, rich in history, tourism, and a vibrant local business community. Winterset is widely known for its historic covered bridges, the birthplace of John Wayne, scenic byways, and holiday festivals. Winterset is the county seat of Madison County. Madison County tourism has earned a number of accolades and awards. City of Winterset population: 5,421. Madison County population: 17,161. Winterset median household income: $72,822. Majority of households in town are between $75,000-$100,000. Madison County median household income: $89,542. Please ask the listing agent for P&L statements. All information obtained from seller and public records.
The current owner is located in Des Moines and is wanting to keep his investment properties closer to home. The washer and dryer used by the apartment tenants are included and will stay with the sale of the property. All apartment appliances will stay. The seller reserves any items located in the block building at the back of the property. There are five total apartments on the second floor. One apartment is currently vacant. Showings by appointment only and at least 24 hours notice is needed to coordinate with tenants. Please call Jeff at 319-430-5523 to schedule a time