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123 1st St SE 9,256 SF 84% Leased Office Building Mason City, IA 50401 $699,000 ($75.52/SF) 8.30% Cap Rate
Executive Summary
Introducing a prime investment opportunity in Mason City, IA!
Presenting Spring Harbor Office Building, located at 123 First St SE. This 9256 SF office building is fully leased, offering a solid $58,000 NOI with established tenants and the potential for further expansion with 1500 SF available. With an attractive 8.3% CAP rate, this property is a lucrative asset. Positioned close to downtown Mason City, this office space is highly sought-after for its convenient location and high tenant demand. This is a sound investment opportunity not to be missed. Whether you're looking to expand your real estate portfolio or secure a reliable income stream, this property offers both stability and growth potential.
Broker owned property and would consider management after the sale.
Conservative rents and should be solid for years to come.
Call with any questions! Brett Schoneman. 641-425-1233
Presenting Spring Harbor Office Building, located at 123 First St SE. This 9256 SF office building is fully leased, offering a solid $58,000 NOI with established tenants and the potential for further expansion with 1500 SF available. With an attractive 8.3% CAP rate, this property is a lucrative asset. Positioned close to downtown Mason City, this office space is highly sought-after for its convenient location and high tenant demand. This is a sound investment opportunity not to be missed. Whether you're looking to expand your real estate portfolio or secure a reliable income stream, this property offers both stability and growth potential.
Broker owned property and would consider management after the sale.
Conservative rents and should be solid for years to come.
Call with any questions! Brett Schoneman. 641-425-1233
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
9,256 SF
Building Class
B
Year Built/Renovated
1945/2024
Price
$699,000
Price Per SF
$75.52
Cap Rate
8.30%
NOI
$58,000
Percent Leased
84%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
9,256 SF
Building FAR
0.64
Lot Size
0.33 AC
Zoning
Commercial
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Spring Harbor
- Health Care and Social Assistance
- -
- $8.00
- Triple Net
- Nov 2027
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Spring Harbor | Health Care and Social Assistance | - | $8.00 | Triple Net | Nov 2027 |
1 1
Walk Score®
Very Walkable (85)
Bike Score®
Very Bikeable (84)
Property Taxes
| Parcel Number | 07-10-156-00-400 | Improvements Assessment | $344,560 |
| Land Assessment | $63,460 | Total Assessment | $408,020 |
Property Taxes
Parcel Number
07-10-156-00-400
Land Assessment
$63,460
Improvements Assessment
$344,560
Total Assessment
$408,020
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123 1st St SE
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