7.45% Cap Rate | Turn-Key w/Long Term Tenant 118 E Jackson Ave 1,080 SF Retail Building Iola, KS 66749 $175,000 ($162.04/SF) 7.45% Cap Rate

Excellent opportunity to acquire a well-maintained, 1,080 SF income-producing commercial building. This property offers a true "set-it-and-forget-it" investment for those looking for stable cash flow in a strong local market. With a tenant who has successfully operated in this location for 5 years and significant recent capital improvements, this is a turn-key addition to any portfolio.
Investment Highlights
* Strong Yield: Offered at a 7.45% Cap Rate based on current Net Operating Income.
* Proven Tenant Stability: The current business has occupied the space for 5 years, demonstrating long-term viability and commitment to the location.
* Recent Capital Improvements: * New Roof: Reduced future CAPEX risk and improved energy efficiency.
* Updated Plumbing: Modernized systems throughout the building for worry-free ownership.
* Efficient Footprint: 1,080 SF layout, ideal for a variety of retail, office, or service-based users should the building ever become vacant.
* Low Maintenance: Recent updates and a reliable tenant history make this an ideal "passive" investment.
Property Specifications
* Price: $175,000
* Building Size: 1,080 SF
* NOI: $13,040
* Cap Rate: 7.45%
* Tenancy: Single-Tenant (Occupied 5 years)
* Price/SF: $162.04
Description
This property represents a rare find at this price point—combining a healthy yield with modernized infrastructure. The updated plumbing and brand-new roof significantly lower the risk of deferred maintenance for a new owner. Situated in a high-visibility area, the 1,080 SF interior is optimized for functional business use.
Whether you are looking for your first commercial investment or diversifying an existing portfolio, the combination of a 5-year established tenant and a 7.45% return makes this a standout opportunity.