3906 E Main St - Apartments FOR SALE


Knoxville, IA 50138
$659,000 USD
727-481-6842
3906 E Main St, Knoxville, IA for Sale
$659,000 USD
Apartments - FOR SALE
1/4
null | 9% Cap Rate

3906 E Main St
Knoxville, IA 50138


OVERVIEW

Located just outside Knoxville, is a lucrative investment opportunity ready for you to seize! This property boasts a fully occupied building featuring 7 income-producing apartments and a successful restaurant leased to a seasoned professional willing to extend to a long-term lease or vacate for new owner/operator. The 4,500 square foot building includes an indoor dining area for over 40 guests, an outdoor deck and bar for up to 100 patrons, a sand volleyball court, and ample parking. With a 9% going-in cap rate and local bank financing available, this property promises great cash flow with minimal management required. Conveniently situated near city limits and close to two major factories, employee hundred of people, the location is perfect for both housing and food service ventures. Take advantage of the opportunity to expand and add additional buildings (storage? housing?) to maximize your returns. Don't miss out on this turnkey investment with a successful track record dating back to 1990!

FOR SALE DETAILS

PRICE

$659,000 USD

PRICE/SF

$105 USD /SF

# OF UNITS

8

PRICE/UNIT

$82,375

CAP RATE

9%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1952

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.55 AC

LAND SF

111,078 SF

ZONING

-

APN/PARCEL ID

0557501500

ASK ABOUT THIS PROPERTY

Brad Carter CCIMCarter Property Group, LLCMore Info
727-481-6842

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Brad Carter CCIMCarter Property Group, LLCMore Info
727-481-6842

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