Commercial (5+ Units) For Sale

1914 18, Algona, Iowa 50511

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Property Description

This property provides the opportunity to acquire a 17,910 SF retail center in Algona, Iowa, located on heavily traveled Hwy 18 E at a cap rate of 6% on In-Place income. The property is 82% leased with a diverse mix of occupants. Current vacancies and below market rents provide an investor upside over time to increase yield. The retail center is strategically located near a grocery store, upscale restaurant, hotel and auto parts store. Eastland Hill Plaza provides fortuity to purchase a multi-tenant retail center at far below replacement cost with concurrent benefit that accompanies lease up of vacant suites and moving low legacy rents to market.

Basic Details
Property Type : Commercial (5+ Units)
Listing Type : For Sale
Price : $895,000
Status : Active
Year Built : 2003
Lot Area : 1.19 Acre
Features
Heating System : Forced air
Cooling System : Central
Water : City Water/Connected
Water/Sewer : City Sewer/connected
Construction
Exterior : Brick/stone
Other
Tax Year : 02/13/2024
Fuel Type : Natural gas
Style : Retail
Address : 1914 E 18 Highway
Status : Active
Municipality : Algona
Insurance Fee : $0
Taxes : $29,262
LA1Agent First Name : Joseph
LA1Agent Last Name : Muller
Listing Office Info
Listing ID : 6300723
List Office MLSID : 2725
List Agent MLSID : 4637
Community
School District : 126 - Algona
Location
Street Number : 1914
Street : 18
Country : US
State : IA
County : Kossuth
City : Algona
Zipcode : 50511
Longitude : W95° 46' 47.3''
Latitude : N43° 4' 20.3''
Directions : Located directly on Highway 18 East across the str
Commercial (5+ Units) For Sale
  • Listing ID : 6300723
  • Lot Area : 1.19 Acre
  • Visits : 29 in 183 days
$895,000
Agent info
Matt Karjalahti
RE/MAX Partners Realty
932 Main St., Grinnell, IA 50012
Contact Agent

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