217 8th Ave, Wellman

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Sale Price $235,000.00 ▪ MLS: 202200205

This leased investment is a commercial condo that is fully leased for 5-years to two tenants. One tenant is to the only medical clinic in Wellman and the other is a financial services provider. The financial services provider is also the owner and if a buyer would like to occupy the street side suite of 708 square feet and own the entire building with the medical tenant still in place, the owner will move out at closing. The CAP rate based on actual income and expense is a healthy 7.7% return. Both spaces in this commercial condo are in very good condition and show well. There is street parking in the front of the building for the financial services tenant and a parking lot in the rear of the building for the medical services clinic.

      
Directions: South on 8th Ave from Hwy 22, building is on the right hand side in the heart of downtown.

Property Details

MLS #: 202200205
Sale Price: $235,000.00
Year Built: 1900
Sq Ft: 1845
Business: Medical Dental, Office Building, Other
Construction: Brick, Frame
Floor Type: Concrete Slab/Grade, Carpet, Ceramic Tile
Financing: Cash, Conventional
Utilities: Cable TV, Electricity, Natural Gas, Sewer, Telephone, Water-City
Acreage: 0
Lot: Irregular
Frontage: County/City Road, Pavement
Energy Generation: Gas, Forced Air
Heat/Cooling: Central A/C

Information deemed reliable but not guaranteed


Who To Contact

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Coldwell Banker Real Estate Professionals

319-351-3355
 
info@cbrep.com


 Listing Office: Lepic-Kroeger, REALTORS - Agent: Jeff Edberg ▪ Information furnished by Iowa City Area Association of Realtors MLS