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Home For Sale Iowa STUART 6681
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Mixed Use For Sale By Owner

HISTORIC CLOCKTOWER in IOWA - 30min to DSM Airport - TURN-KEY




111 NW 2ND ST, STUART, Iowa 50250 United States
Description

ONCE IN A LIFETIME OPPORTUNITY
HISTORIC DOWNTOWN STUART CLOCKTOWER - LIVE/WORK multi-use - 30min from the DSM Airport.
Growth is expanding rapidly west from DSM - Stuart itself has seen rapid growth the past 15mo.
IN THIS LISTING - This building has '3' entities; OFFICE, LIVING & RETAIL

STRUCTURAL REPORT AVAILABLE

APX. 19,000+ sQft [buyer to verify]

Current NOi is 33k/year [w/the current vacancies]

Possible uses: LIVE WORK / RESIDENTIAL.
This building is a MULTI.USE. Make it your big house, For the established artist, Photographers dream building, Convert the 2nd floor to more apartments, Open a big restaurant on the big 3400 sQft 1st floor space + live upstairs, make it a bed an breakfast, ect, etc, etc...

COMMERCIAL:
Potential full building income, 11k to 14k / month


FOR THE INVESTOR TYPE OF BUYER - PLEASE NOTE:
The clocktower is on the national historic registry. It is eligible for major funding and tax credits in this state. You could look this up easily.
Also; In Iowa, historic registry buildings as far as major changes/construction go have almost none of the code requirements that other non-historic building have. These facts/information would mean ANY project you do here may cost you nothing in the end.. and your ‘renovation numbers’ may have ‘0’ relevance to buying this building. The building as it sits needs nothing major. It is a "TURN-KEY" property.

5 LEVEL [full basement] Building.
Building elevator
TONS OF POWER for any projected use.
CLOCK is fully functional

Current Use - owner occupied. Building is mostly leased [lots of excess income].
3rd & 4th floor - apartments [apx. 6000sQft]
2nd floor - professional offices [apx. 4000 sQft]
1st floor - store fronts [500 and 2900 sQft - 17ft ceiling + 900 sQft rear utility space]
Fully used basement [apx. 3500 sQft 8.5ft ceiling]


[[CURRENT STUART COMP - [ONLY 4200SqFT] Check out at Realtor dot com
124-N-Harrison-St_Stuart_IA_50250_M77594-40781]]

Insurance replacement value: 2.8 million.

{{A 50x80 next-door open lot [CURRENT USE garden and parking] is available for purchase. It is a separate property sale - negotiable}}

PROPERTY IS PRICED WELL BELOW VALUE.
Serious buyers only. {{Second contact: Barbara. 515 423 3389}}

Price: $540,000
Property Sub-Type: Mixed Use
Cap Rate: 8 %
Total Building Size: 19,000 SF
Year Built : 1894
No of Stories: 3.5
No of Parking Stalls: 5
Occupancy: 50 %
Listing ID: 6681

Map of: 111 NW 2ND ST, STUART, Iowa 50250 United States

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