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24 W Park St 11,306 SF 100% Leased Retail Building Spencer, IA 51301 $785,000 ($69.43/SF)



EXECUTIVE SUMMARY
Here is your opportunity to own a beautiful piece of Northwest Iowa history -- currently operating as an event/wedding facility! This former Episcopal Church exudes character. It was moved to the current site in 2009 and set above a 6300 sq ft first floor with a spectacular view of the Little Sioux River. No expense was spared in building this unique, landmark property with a geothermal HVAC system, floor to ceiling windows, and more. The fenced in grounds lend themselves to large event gatherings such as weddings, concerts, class reunions, etc. The lower level could be separate retail/office space. Special riverfront zoning allows broad residential & commercial use. Updates in 2025 include new roof, cement patio, windows, geothermal HVAC updating, and some new siding! The building is in top condition and waiting for your business. Leasing all or partial would also be an option. Seller is a licensed real estate broker for the state of Iowa.
There is tenant on West half of first floor so we would prefer a 24 hours notice to show. The blacktop parking lot/storage building directly across street to North is included in the sale price. The contents are not included in the sale price but are negotiable. Seller is also open topossibly leasing the premises. In the event of a lease the contents would be left making this a turnkey restaurant/wedding/event center.Please contact listing agent for fee offered for referral. The vacant lot to the East is also included in the sale.Directions - Just NW of bridge over Little Sioux River in Spencer.
There is tenant on West half of first floor so we would prefer a 24 hours notice to show. The blacktop parking lot/storage building directly across street to North is included in the sale price. The contents are not included in the sale price but are negotiable. Seller is also open topossibly leasing the premises. In the event of a lease the contents would be left making this a turnkey restaurant/wedding/event center.Please contact listing agent for fee offered for referral. The vacant lot to the East is also included in the sale.Directions - Just NW of bridge over Little Sioux River in Spencer.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
11,306 SF
Building Class
C
Year Built
1900
Price
$785,000
Price Per SF
$69.43
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.44
Lot Size
0.60 AC
Parking
90 Spaces (7.96 Spaces per 1,000 SF Leased)
Frontage
246’ on W Park St
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 9636-18-176-008 | Improvements Assessment | $261,630 |
| Land Assessment | $116,000 | Total Assessment | $377,630 |
PROPERTY TAXES
Parcel Number
9636-18-176-008
Land Assessment
$116,000
Improvements Assessment
$261,630
Total Assessment
$377,630
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