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1640 1st St W 2,820 SF Retail Building Independence, IA 50644 $225,000 ($79.79/SF)



Investment Highlights
- Prime Corner Location
- Two 12,200 sq.ft. concrete parking lots
- Just 1.5 miles from Highway 20
Executive Summary
Welcome to the ultimate investment opportunity! This building boasts 2820 square feet of prime commercial real estate just 1.5 miles from Highway 20. Most recently housed a restaurant, the property is zoned C-2, allowing for a wide range of commercial uses. The building itself features a spacious and inviting interior, with ample space to accommodate any business venture. Its location on the highly traveled 1st Street West ensures excellent visibility and easy access, making it a prime destination for customers. Additionally, this property comes with not one but two large concrete parking lots, each measuring 12,200 square feet, providing ample parking space for customers and employees. Neighboring businesses include Subway, Advance Auto Parts, Dollar General, Pizza Ranch, and Super 8 Motel. It is also situated in close proximity to the Independence Community Schools campus, making it an excellent location for any business catering to families, students and the broader community. With its prime location and impressive features, this building offers a rare opportunity to own a highly desirable piece of commercial real estate.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
2,820 SF
Building Class
C
Year Built
1976
Price
$225,000
Price Per SF
$79.79
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
0.72 AC
Zoning
C2 - Commercial
Frontage
281’ on 1st Street West
Amenities
- Corner Lot
- Dedicated Turn Lane
- Signage
- Air Conditioning
Somewhat walkable
20/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 06.33.452.003 | Total Assessment | $236,900 (2025) |
| Land Assessment | $76,340 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $160,560 (2025) | Tax Year | 2024 Payable 2025 |
Property Taxes
Parcel Number
06.33.452.003
Land Assessment
$76,340 (2025)
Improvements Assessment
$160,560 (2025)
Total Assessment
$236,900 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024 Payable 2025
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1640 1st St W
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