331 S Main St - Storefront Retail/Residential FOR SALE


Spillville, IA 52168
$379,000 USD
319-929-1172
331 S Main St, Spillville, IA for Sale
$379,000 USD
Storefront Retail/Residential - FOR SALE
1/11
null | Request Cap Rate

331 S Main St
Spillville, IA 52168


HIGHLIGHTS

  • National Register of Historic Places landmark originally constructed in 1871.
  • Seven furnished guest rooms currently operating in the lodging market.
  • Restaurant dining area located within historic limestone tunnels.
  • Two-bar configuration supports dining, events, and hospitality operations.
  • Offered turnkey with furnishings, equipment, and operational infrastructure.
  • Historic tax credit programs may be available for qualifying improvements.

OVERVIEW

The Wenzil Taylor Building presents a rare opportunity to acquire a fully operational hospitality asset housed within a landmark structure listed on the National Register of Historic Places. Located in Spillville, Iowa, a community recognized for its Czech heritage and tourism appeal within the Driftless Region, the property combines boutique lodging, food and beverage operations, and a distinctive historic setting that is difficult to replicate. The offering includes seven furnished guest rooms with private baths, a restaurant, two bars, a commercial kitchen, furnishings, equipment, and an established operational framework. A defining feature of the property is its hand-laid limestone tunnel system, which serves as a unique dining environment beneath vaulted stone ceilings. Local lore connects the tunnels to Prohibition-era bootlegging activity, a story reinforced through displayed period photographs and speakeasy-themed elements throughout the building. Additional historic features include stained glass sourced from Chicago, antique chandeliers from New York, a historic front desk, and preserved architectural details that contribute to the property's character and guest experience. The property is positioned for continued hospitality, event, and tourism-related use while offering potential value through historic preservation incentives. Marketing materials indicate eligibility for Iowa's 25% Historic Tax Credit and the Federal 20% Historic Tax Credit program on qualifying rehabilitation expenditures, subject to buyer verification. Combined with an offering price of $379,000 and the inclusion of operational assets, the property offers an opportunity to acquire an established lodging and food-and-beverage business within a historically significant structure that serves as a destination experience.

FOR SALE DETAILS

PRICE

$379,000 USD

PRICE/SF

$47 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1871

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,276 SF

ZONING

Commercial

APN/PARCEL ID

141945102200

ASK ABOUT THIS PROPERTY

Josh MasonWenzil Taylor Building LlcMore Info
319-929-1172

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Josh MasonWenzil Taylor Building LlcMore Info
319-929-1172

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.