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619 Blondeau St 22,428 SF 88% Leased Office Building Keokuk, IA 52632 $800,000 ($35.67/SF) 5.29% Cap Rate
EXECUTIVE SUMMARY
Own a piece of local history with this beautifully maintained, income-producing commercial building known as Meyers Courtyard. This impressive three-story property offers exceptional versatility and revenue potential, all within a prominent downtown location. With 7 spaces leased to local businesses, the main level is fully leased with five businesses, along with two additional leased tenant spaces on the second level. The second floor also features a private owner’s office and a spacious 2,800 sq ft, 4-bedroom apartment—perfect for owner occupancy or added rental income. The third floor is a showstopper: an expansive event center complete with a restaurant-style kitchen, dining area, bar, ballroom, and restrooms—ideal for weddings, receptions, or large gatherings. An elevator services all floors, adding convenience and accessibility throughout. This solid commercial property boasts 18-footceilings, forced air heat, and central air conditioning. Over the years there have been many updates, including new furnaces and A/C's, new flooring, fresh paint, and much of the plumbing and electrical have been updated, ensuring modern functionality with historic charm. Whether you're an investor, entrepreneur, or event operator, Meyers Courtyard presents a rare opportunity to own a vibrant, multi-use building with strong income and timeless character.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| 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 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Building Size
22,428 SF
Building Class
B
Year Built
1914
Price
$800,000
Price Per SF
$35.67
Cap Rate
5.29%
NOI
$42,300
Percent Leased
88%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
7,476 SF
Building FAR
1.31
Lot Size
0.39 AC
Opportunity Zone
Yes
AMENITIES
- Controlled Access
- Restaurant
- Reception
- Storage Space
- Air Conditioning
- Balcony
- Smoke Detector
1 1
Walk Score®
Very Walkable (77)
PROPERTY TAXES
| Parcel Number | 04-45-21-25-427-0010 | Total Assessment | $395,440 (2025) |
| Land Assessment | $16,800 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $378,640 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
04-45-21-25-427-0010
Land Assessment
$16,800 (2025)
Improvements Assessment
$378,640 (2025)
Total Assessment
$395,440 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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619 Blondeau St
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