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    216/220 E 1st Street

    Independence, IA 50644
    • $278,000
    • STATUS: Active
    • ON SITE: 102 days
    • MLS #: 20205792
    UPDATED: 42 min ago
    $278,000
    • 0
      BEDS
    • 0.24
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 14,400
      SQFT
    • $19
      $/SQFT
    Type:
    Commercial
    County:
    Area:

    School Ratings & Info

    Description

    Great investment opportunity downtown Independence IA. This sale includes the building and some equipment from the restaurant side but does not include the sale of either business. Both tenants have 5-year leases with option and pay for all utilities. There is additional income potential in an office/retail space that is currently vacant in the front of the building in the lower level. This building was built with concrete floors between the levels along with the roof. Both units have a usable dry basement and on the restaurant side it is set up as a party room. Walk in cooler and walk in freezer stay with the building along with the hood and Ansel system. There is city parking lot in the back of the building for plenty of off-street parking along with some private parking spaces directly behind the building.

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    Listing information © 2021 Waterloo Cedar Falls Board of Realtors®. IDX information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but not guaranteed accurate by the MLS. Data last updated: 2021-03-02T14:53:36.31.

    Licensed in the State of Iowa.
    www.cedarvalleyhomesforsale.com/homes/112031463
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    216/220 E 1st Street Independence, IA 50644

    • Price: $278,000
    • Status: Active
    • Updated: 42 min ago
    • MLS #: 20205792
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.24
    Acres
    14,400
    SQFT
    $19
    $/SQFT
    County:
    Buchanan
    Area:
    Buchanan
    Property Description
    Great investment opportunity downtown Independence IA. This sale includes the building and some equipment from the restaurant side but does not include the sale of either business. Both tenants have 5-year leases with option and pay for all utilities. There is additional income potential in an office/retail space that is currently vacant in the front of the building in the lower level. This building was built with concrete floors between the levels along with the roof. Both units have a usable dry basement and on the restaurant side it is set up as a party room. Walk in cooler and walk in freezer stay with the building along with the hood and Ansel system. There is city parking lot in the back of the building for plenty of off-street parking along with some private parking spaces directly behind the building.
    Exterior Features

    Approx Lot Size 10230 Building Description 1 StoryBasementMulti-Tenant Dock Doors 0 Drive In Doors 0 Exterior Finish Brick Frontage Access City StreetInside Lot Location Downtown Parking Spaces Allotted 6 Roof Construction Comp RollFlatMembraneOther Roof Construction

    Interior Features

    Common Area No Cooling CentralIndividual ControlIndividual Units Floor Construction ConcreteReinforced Concrete Heating Forced AirGasIndividual UnitsZones Insulation Roof Sprinkler No Sq Ft Total Available 14400 Wall Construction Block

    Property Features

    Agent Owned No Commercial Type Office/Retail Flood No For Lease No For Sale Yes Gross Income Is Actual Gross Taxes 3756 Investment Yes Lease Terms N/A Lease Type None Multitenant Yes Ownership Individual Possession At ClosingSubject To Tenant Right Possible Financing Cash Convention Potential Use OfficeOther Potential UsesRetail Price Type Gross Region Outside The Metro Area Sale Lease Includes BuildingLandOther Sale/Lease Includes Sale Type Normal Sale Sewer City Sewer Tax Incentive In City Limit Tax Year 2019 Tenant Pays CoolingElectricGasHeatingInternal MaintenanceJanitorialMechanical MaintenanceSnow/LawnTrashWater/Sewer Utilities On Site ElectricFiber OpticsGasPhoneSewerWater Zoning Commercial

    Listing provided courtesy of Nathan Trappe of Allen Real Estate Company, Llc.


    Listing information © 2021 Waterloo Cedar Falls Board of Realtors®. IDX information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but not guaranteed accurate by the MLS. Data last updated: 2021-03-02T14:53:36.31.

    Licensed in the State of Iowa.
     
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    Amy Wienands Real Estate
    1730 W. Ridgeway Avenue
    Waterloo IA, 50701