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Kayla McCormick

kayla@mccormickteam515.com +1(515) 717-7680

$ 225,000

Est. payment | -/mo

3,371 Sqft Lot

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$ 225,000

Est. payment | -/mo

Save

3,371 Sqft Lot

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 724926

HOA Y/N No

Year Built 1900

Annual Tax Amount $3,300

Tax Year 2024

Lot Size 3,371 Sqft

Acres 0.0774

Property Description

Discover a remarkable investment opportunity located on Main Street in the heart of downtown Grinnell. This property boasts two well-established tenants: one commercial entity and one professional office. Both tenants have active leases in place. The building has been well maintained over the years. The first-floor retail and professional office spaces are tastefully decorated, featuring zero entry access to both ground-level spaces. The upstairs is presently vacant and includes a separate street level entrance, separate utilities, and could be office space, or repurposed to someone's best use. A new rubber roof was installed in 2023. In 2004, a significant $250,000 facade restoration was completed in collaboration with the city program. Each tenant benefits from their own water, gas, and electric meters. The furnaces and AC units are relatively new, and each of the three spaces have their own breaker panels. Additionally, there is a basement beneath both 907 Main Street and 909 Main Street, featuring cement floors, currently utilized for storing seasonal supplies, extra inventory, and business records. The two buildings presently generate two income streams, providing excellent cash flow. If you're aiming to diversify your investment portfolio, I highly recommend considering this commercial opportunity.

Location

State IA

County Poweshiek

Area Grinnell

Zoning C

Interior

Heating Electric, Forced Air, Gas, Natural Gas

Cooling Central Air

Flooring Carpet

Fireplace No

Exterior

Roof Type Rubber

Private Pool No

Building

Lot Description Rectangular Lot

Foundation Brick/Mortar

Sewer Public Sewer

Water Public

Schools

School District Grinnellnewburg

Others

Tax ID 1800788600

Monthly Total Fees $275

Acceptable Financing Cash, Conventional, See Remarks

Listing Terms Cash, Conventional, See Remarks

Listed by Ramsey Weeks Real Estate

Nearby Locations

“Real estate is a big decision. We're here to make sure you understand what you’re doing, feel confident doing it, and have a little fun along the way.”

+1(515) 717-7680

billkayla@mccormickteam515.com

5550 Wild Rose Ln #400, West Des Moines, IA 50266, USA

907 Main Street Grinnell, IA 50112

Kayla McCormick

Key Details

Location

Interior

Exterior

Building

Schools

Others

Nearby Locations

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907 Main Street