Commercial Sale For Sale
0 Sqft - B Ave, Kalona, Iowa 52247
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Description

This charming two-story building of 4,992 square feet is in the heart of downtown Kalona. It features soaring decorative ceilings, an upper level, once used as a dance hall, with gorgeous wood floors and tons of architectural details throughout. Both floors are being utilized as an antique/consignment store with several unique and eclectic collections for sale by numerous vendors. A buyer can take the building in two ways. First, it can be delivered vacant, provided vendors are given 60 days’ notice. A second option, at no additional cost, is to continue operating the business and keep the 30 existing vendors that pay a total of $3,200 per month in booth rental. The owner currently manages the business. The business brings in $38,000 per year from fixed rent from vendors, taxes are $3,836 per year and expenses are estimated to be $9,048 (including insurance and utilities). The NOI would be $25,516 with this scenario. In the past a portion of the upper floor was configured as a studio apartment with its own exterior entrance. This could be done again allowing the new owner to have a perfect work/live situation.

Property Description

This charming two-story building of 4,992 square feet is in the heart of downtown Kalona. It features soaring decorative ceilings, an upper level, once used as a dance hall, with gorgeous wood floors and tons of architectural details throughout. Both floors are being utilized as an antique/consignment store with several unique and eclectic collections for sale by numerous vendors. A buyer can take the building in two ways. First, it can be delivered vacant, provided vendors are given 60 days’ notice. A second option, at no additional cost, is to continue operating the business and keep the 30 existing vendors that pay a total of $3,200 per month in booth rental. The owner currently manages the business. The business brings in $38,000 per year from fixed rent from vendors, taxes are $3,836 per year and expenses are estimated to be $9,048 (including insurance and utilities). The NOI would be $25,516 with this scenario. In the past a portion of the upper floor was configured as a studio apartment with its own exterior entrance. This could be done again allowing the new owner to have a perfect work/live situation.

Basic Details
Property Type:
Commercial Sale
Listing Type:
For Sale
Listing ID:
202306203
Price:
$264,900
Square Feet:
0 Sqft
Construction Year:
1910
Lot Size:
0.06 Acre
Country:
US
State:
IA
County:
Washington
City:
Kalona
Zipcode:
52247
Status Category:
Active
Features
Heating:
Natural Gas
Cooling System:
Central Air
Roof:
Metal
Construction:
Other, Frame, Brick
Interior:
Zero Step Entry
Address Map
Street:
B Ave
Street Number:
413
Floor Number:
0
Longitude:
W92° 17' 34.4''
Latitude:
N41° 29' 0''
More Information
Office Name:
Lepic-Kroeger, REALTORS
Directions:
Hwy 1 South and continue straight on to 1st St, turn left onto B Ave. Property is on the left.
Zoning:
C-3
Lot Dimensions:
24 x 120
LA1Agent Logon Name:
I038
LA1Agent First Name:
Jeff
LA1Agent Last Name:
Edberg
LO1Main Office ID:
ILKR
PriceChangeTimestamp:
03-13-2024
319.351.1111 - 250 Holiday Road, Coralville, IA 52241
Agent Information
Jeff Edberg
Lepic-Kroeger, REALTORS
Additional Details
Central Air
Other, Frame, Brick
Zero Step Entry
12/05/2023
Hwy 1 South and continue straight on to 1st St, turn left onto B Ave. Property is on the left.
24 x 120