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Flex Commercial Building 215 Market St 3,200 SF Office Building Lake Park, IA 51347 $159,900 ($49.97/SF)
Investment Highlights
- Main Street
- Growing Community
- New Windows
Executive Summary
Nestled in the heart of Lake Park's business district, this is an ideal main street location. This building provides rental income through theexisting 3 business and laundromat, with opportunities for additional rental space or use for your personal business location. Being your ownlandlord while also having tenants contribute to the rent is a great option. The facade of the building has been updated with new windows, doors, and awnings giving a professional first impression. Lake Park is a growing community with a new school, community amenities, and risinghome values.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$17,100
|
$5.34
|
| Other Income |
$6,000
|
$1.88
|
| Vacancy Loss |
$3,000
|
$0.94
|
| Effective Gross Income |
$20,100
|
$6.28
|
| Taxes |
$1,224
|
$0.38
|
| Operating Expenses |
$9,468
|
$2.96
|
| Total Expenses |
$10,692
|
$3.34
|
| Net Operating Income |
$9,408
|
$2.94
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $17,100 |
| Annual Per SF | $5.34 |
| Other Income | |
|---|---|
| Annual | $6,000 |
| Annual Per SF | $1.88 |
| Vacancy Loss | |
|---|---|
| Annual | $3,000 |
| Annual Per SF | $0.94 |
| Effective Gross Income | |
|---|---|
| Annual | $20,100 |
| Annual Per SF | $6.28 |
| Taxes | |
|---|---|
| Annual | $1,224 |
| Annual Per SF | $0.38 |
| Operating Expenses | |
|---|---|
| Annual | $9,468 |
| Annual Per SF | $2.96 |
| Total Expenses | |
|---|---|
| Annual | $10,692 |
| Annual Per SF | $3.34 |
| Net Operating Income | |
|---|---|
| Annual | $9,408 |
| Annual Per SF | $2.94 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
3,200 SF
Building Class
B
Year Built
1947
Price
$159,900
Price Per SF
$49.97
Tenancy
Single
Building Height
1 Story
Typical Floor Size
3,200 SF
Building FAR
0.32
Lot Size
0.23 AC
1 1
Somewhat walkable
30/100
Exceptionally drivable
90/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 01-27-176-014 | Total Assessment | $101,000 |
| Land Assessment | $12,700 | Annual Taxes | $1,224 ($0.38/SF) |
| Improvements Assessment | $88,300 | Tax Year | 2025 |
Property Taxes
Parcel Number
01-27-176-014
Land Assessment
$12,700
Improvements Assessment
$88,300
Total Assessment
$101,000
Annual Taxes
$1,224 ($0.38/SF)
Tax Year
2025
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Flex Commercial Building | 215 Market St
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