546 W 2nd St - Apartments FOR SALE


Webster City, IA 50595
$875,000 USD
515-453-5403
546 W 2nd St, Webster City, IA for Sale
$875,000 USD
Apartments - FOR SALE
1/8
null | 8.29% Cap Rate

546 W 2nd St
Webster City, IA 50595


HIGHLIGHTS

  • Mixed-use building combining retail space and multifamily apartments in a central downtown location.
  • Comprehensive renovation completed in 2026, including structural, mechanical, and security enhancements.
  • Income-producing asset now stabilized with annual NOI of $72,554 and utility expense efficiencies through RUBS.
  • Retail frontage positioned along Webster City’s primary commercial corridor, promising consumer traffic and visibility.
  • Numerous operational upgrades such as new HVAC systems, plumbing improvements, and additional laundry facilities.
  • Strong tenant appeal with updated security measures and convenience amenities integrated across the property.

OVERVIEW

This mixed-use property in the heart of Webster City’s downtown offers an outstanding investment opportunity at an asking price of $875,000. Spanning nearly 19,902 square feet, the asset features a combination of retail space and 11 apartment units, along with a basement storage component. A significant infusion of capital has been recently invested into the building, including tuck-pointing, roofing replacement, upgraded plumbing systems with PEX piping, new heating and cooling units, modernized storefront systems, new gutters, and enhanced building entries with mag-lock security access. Approximately 40% of apartment appliances have been replaced, and operational security cameras have been installed throughout. The property also benefits from cost controls implemented via a RUBS billing system for utilities, which has driven operating efficiency. Producing a stabilized annual NOI of $72,554, this investment offers solid income potential for buyers seeking a well-positioned property in a growing regional market. Located directly along the main street in Webster City, it delivers prominent visibility and proximity to local businesses and amenities.

FOR SALE DETAILS

PRICE

$875,000 USD

PRICE/SF

$44 USD /SF

# OF UNITS

11

PRICE/UNIT

$79,545

CAP RATE

8.29%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1915

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,902 SF

ZONING

-

APN/PARCEL ID

40-88-26-01-232001

ASK ABOUT THIS PROPERTY

Daniel DempseyNAI Iowa Realty CommercialMore Info
515-453-5403

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Daniel DempseyNAI Iowa Realty CommercialMore Info
515-453-5403

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