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217 8th Ave

Wellman, IA 52356
  • $235,000
  • STATUS: Active
  • ON SITE: 4 Days
  • MLS #: 202200205
New On Site 4 Days Ago
$235,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 1,845
    SQFT
  • $127
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1900
County:
Area:

School Ratings & Info

Description

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.

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© 2022 Iowa City Area Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Johnson Team | Skogman Realty. Data last updated: 2022-01-16T00:25:35.1
www.gwenjohnson.com/homes/124653882
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217 8th Ave Wellman, IA 52356

  • Price: $235,000
  • Status: Active
  • On Site: 4 Days
  • MLS #: 202200205
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1,845
SQFT
$127
$/SQFT
1900
Built
Neighborhood:
Sw Quadrant
County:
Washington
Area:
Sw Quadrant
Property Description
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.
Exterior Features

Additional Square Feet Under 2000 Sqft Construct Cm BrickFrame Road Frontage County/City RoadPavement Roof Type Other

Interior Features

Cooling Central A/C Elevators No Floor Type CarpetCeramic TileConcrete Slab/Grade Heating GasForced Air

Property Features

Bank Owned NO Business Medical DentalOffice BuildingOther Ci Features Delivery DoorOther Gross Taxcounty And City 4700 Insurance Exp Per Sqft 0 Internet Yes Lease Price 0 Location Other Lot Dimensions Irregular Ownership Type Commercial Possible Financing CashConventional Sale Lease For Sale Special Features Other Type Of Lease N/A Utilities Available Cable TvElectricityNatural GasSewerTelephoneWater-City Zoning Commercial

Listing information © 2022 Iowa City Area Association of Realtors.
Listing provided courtesy of Jeff Edberg of Lepic-Kroeger, Realtors.



© 2022 Iowa City Area Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Johnson Team | Skogman Realty. Data last updated: 2022-01-16T00:25:35.1
 
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