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Listing ID: 202200205
Price: $235,000
Status: Active
Address: 217 8th Ave
City: Wellman
State: Iowa
Postal Code: 52356
SqFt: 1,845
County: Washington
Wellman
IA
52356
This leased investment is a commercial condo that is fully leased for 5-years to two tenants. One tenant is to the only medical clinic in Wellman and the other is a financial services provider. The financial services provider is also the owner and if a buyer would like to occupy the street side suite of 708 square feet and own the entire building with the medical tenant still in place, the owner will move out at closing. The CAP rate based on actual income and expense is a healthy 7.7% return. Both spaces in this commercial condo are in very good condition and show well. There is street parking in the front of the building for the financial services tenant and a parking lot in the rear of the building for the medical services clinic.

Basic Features

Listing Price: $235,000
Address: 217 8th Ave
City: Wellman
State: Iowa
Postal Code: 52356
County: Washington
Zoning: Commercial
Area: SW Quadrant
Year Built: 1900
Location: Other
Business: Medical Dental, Office Building, Other
Square Feet: Under 2, 000 SqFt
Lot Size: Less Than .5 Acre
Sale/Lease: For Sale
Rent/Lease: neither
Type of Lease: N/A
Rent/Lease Price: $235,000
Days on Market: 7
Status: Active
Documents: Aerial Photo, Floor Plan Avail, Lease Avail
Possession: Negotiable
Possible Financing: Cash, Conventional

Additional Features

Associated Document Count: 3
CI Features: Delivery Door, Other
Construction Company: Brick, Frame
Utilities Available: Cable TV, Electricity, Natural Gas, Sewer, Telephone, Water-City
Cooling: Central A/C
Heating: Gas, Forced Air
Floor Type: Carpet, Ceramic Tile, Concrete Slab/Grade
Gross Tax (County & City): 4700
Lot Dimensions: Irregular
Property Sub Type: Commercial
Roof Type: Other
Special Features: Other
Tax ID: 0124215003
Tax Year Report: 2020
Variable Rate: no
Road Frontage: County/City Road, Pavement

Zoning Info


© 2022 Iowa City Area MLS (ICAARMLS)
Information deemed reliable, but not guaranteed
Listing courtesy of Jeff Edberg of Lepic-Kroeger, REALTORS

Contact - Listing ID 202200205

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Jeff Edberg

2346 Mormon Trek Blvd, Ste #2000
Iowa City, IA 52246
Phone: 319-331-6187
Phone Alt: 319-331-6187

Data services provided by IDX Broker

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