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Kibbey Building 125 E Main St 8,212 SF 100% Leased Retail Building Marshalltown, IA 50158 $760,000 ($92.55/SF) 8.74% Cap Rate
Investment Highlights
- Strong economic base.
- Free city parking lot to the south.
- Mature, stable market with predictable cash flows
- E Main Street frontage in downtown core, only 1 block from the courthouse.
- Within walking distance to retailers, restaurants, business services, and financial institutions
Executive Summary
The Kibbey Building in downtown Marshalltown presents a compelling mixed-use investment opportunity with stabilized income and unique historic character. Originally constructed in 1895, this property underwent a full restoration between 2016 and 2018, including replacement of all major systems such as electrical, plumbing, HVAC, roof membrane, and fire suppression. Today, it offers diversified revenue streams across three commercial suites and four loft-style residential apartments, each with two bedrooms.
Occupancy has remained at 100% since completion, supported by CPI-escalating net leases on the commercial spaces that extend through 2028 and 2029, ensuring predictable cash flow for years ahead. Residential units add further income stability, generating over $55,000 annually. Included in the sale is the adjacent 0.15-acre Gallery Garden, a landscaped green space currently under deed restriction until 2032, with redevelopment rights restored thereafter.
Located in Marshalltown’s central business district, the Kibbey Building benefits from E Main Street frontage, proximity to restaurants, retailers, financial institutions, and free public parking. With a purchase price of $760,000 and an 8.74% cap rate alongside a net operating income of $66,431, this property offers investors long-term upside in a market characterized by steady demand and moderate operating costs.
Occupancy has remained at 100% since completion, supported by CPI-escalating net leases on the commercial spaces that extend through 2028 and 2029, ensuring predictable cash flow for years ahead. Residential units add further income stability, generating over $55,000 annually. Included in the sale is the adjacent 0.15-acre Gallery Garden, a landscaped green space currently under deed restriction until 2032, with redevelopment rights restored thereafter.
Located in Marshalltown’s central business district, the Kibbey Building benefits from E Main Street frontage, proximity to restaurants, retailers, financial institutions, and free public parking. With a purchase price of $760,000 and an 8.74% cap rate alongside a net operating income of $66,431, this property offers investors long-term upside in a market characterized by steady demand and moderate operating costs.
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- Offering Memorandum
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
8,212 SF
Building Class
C
Year Built/Renovated
1895/2016
Price
$760,000
Price Per SF
$92.55
Cap Rate
8.74%
NOI
$66,424
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.26
Lot Size
0.15 AC
Opportunity Zone
Yes
Zoning
CBD
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 8418-35-202-011 | Improvements Assessment | $345,440 |
| Land Assessment | $13,200 | Total Assessment | $358,640 |
Property Taxes
Parcel Number
8418-35-202-011
Land Assessment
$13,200
Improvements Assessment
$345,440
Total Assessment
$358,640
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