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Lake City, IA

Lake City, IA Commercial Real Estate for Sale

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Lanesboro, IA Rockwell City, IA Lytton, IA Breda, IA Lake View, IA Carroll, IA Scranton, IA Sac City, IA

Historic Carnegie Retail Space

Updated: Apr 28, 2025

Historic Carnegie Retail Space

120 N Illinois Street, Lake City, IA 51449

$99,000

1,833‑square‑foot main floor with approximately 1,800 SF basement
Built in 1900 as a Carnegie Library
Brick construction with high ceilings and large windows
Extensive interior and exterior renovations completed in 2016; updated in 2024
Previously operated as the Carnegie Cafe restaurant and bar

Remodeled Farmstead with Lake Creek

Updated: Feb 22

Remodeled Farmstead with Lake Creek

1400 N Woodlawn Ave, Lake City, IA 51449

$565,000

2,620 sqft 9.00 AC lot

Completely remodeled farmstead with Lake Creek flowing through the property
Custom kitchen cabinetry handcrafted by local wood artist Paul Iverson, paired with hickory flooring on the main level
Spacious great room with a wood‑burning fireplace and walls of windows framing scenic views
Primary suite with walk‑in closet and spa‑like bath
Multiple living areas, 4 bedrooms, and 3 baths

Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center

Based on your search, we've compiled 76 Potential Opportunities for your consideration. Besides 2 Active listings in Lake City, IA, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 70 Off-Market properties to explore as potential leads

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

13-Unit Self Storage Facility

13-Unit Self Storage Facility

1723 HWY 71 N, Carroll, IA 51401

$279,900

1.11 AC lot

Metal-sided storage improvements occupy a highway-accessible commercial parcel within city limits.

Productive Farmland Parcel

Productive Farmland Parcel

Parcel 87331810 300th, Rockwell City, IA 50579

$112,000

7.24 AC lot

Agricultural parcel with documented soil ratings and availability for the 2026 growing season.

Single-Tract Iowa Farmland and Hunting

Single-Tract Iowa Farmland and Hunting

1679 270th St, Rockwell City, IA 50579

$1,082,504

99.77 AC lot

One-tract farm with FSA cropland, CRP contract acres, and gently rolling ground with natural drainage.

Carroll, Iowa Development Land

Carroll, Iowa Development Land

01 Bella Vista Drive, Carroll, IA 51401

$425,000

4.80 AC lot

Two 5-acre parcels of development land available for purchase.

Off-Market Properties in Lake City, IA

Consider similar Off-Market properties in Lake City, IA. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

121 Ctr St

PROFESSIONAL BUILDING

121 Ctr St, Lake City, IA 51449-1701

$245,000

Estimated value

900 sqft 0.02 AC lot

113 Main St

RETAIL STORES (PERSONAL SERVICES)

113 Main St, Lake City, IA 51449-1731

$160,000

Estimated value

2,480 sqft 0.06 AC lot

211 Ctr St

OFFICE (GENERAL)

211 Ctr St, Lake City, IA 51449-1703

$280,000

Estimated value

1,500 sqft 0.20 AC lot

107 Main St

PROFESSIONAL BUILDING

107 Main St, Lake City, IA 51449-1603

$80,000

Estimated value

2,234 sqft 0.04 AC lot

112 Main St

MEDICAL BUILDING

112 Main St, Lake City, IA 51449-1604

$55,000

Estimated value

2,310 sqft 0.07 AC lot

1409 Main St

HOMES (RETIRED, NURSING)

1409 Main St, Lake City, IA 51449-1578

$625,000

Estimated value

36,954 sqft 5.61 AC lot

1103 Main St

VETERINARY, ANIMAL HOSPITAL

1103 Main St, Lake City, IA 51449-1559

$245,000

Estimated value

3,731 sqft 0.21 AC lot

101 Ctr St

RETAIL STORES (PERSONAL SERVICES)

101 Ctr St, Lake City, IA 51449-1701

$260,000

Estimated value

5,265 sqft 0.07 AC lot

205 Jefferson St

RETAIL STORES (PERSONAL SERVICES)

205 Jefferson St, Lake City, IA 51449-2019

$165,000

Estimated value

2,072 sqft 0.10 AC lot

413 Jackson St

COMMERCIAL (GENERAL)

413 Jackson St, Lake City, IA 51449

$300,000

Estimated value

0.40 AC lot

821 Main St

GROCERY, SUPERMARKET

821 Main St, Lake City, IA 51449

$240,000

Estimated value

12,958 sqft 0.95 AC lot

123 Ctr St

RETAIL STORES (PERSONAL SERVICES)

123 Ctr St, Lake City, IA 51449-1701

$165,000

Estimated value

1,610 sqft 0.06 AC lot

101 Ctr St

RETAIL STORES (PERSONAL SERVICES)

101 Ctr St, Lake City, IA 51449-1705

$275,000

Estimated value

2,904 sqft 0.03 AC lot

823 Main St

PROFESSIONAL BUILDING

823 Main St, Lake City, IA 51449-1505

$270,000

Estimated value

2,400 sqft 0.18 AC lot

120 Illinois St

RETAIL STORES (PERSONAL SERVICES)

120 Illinois St, Lake City, IA 51449-1707

$255,000

Estimated value

1,833 sqft 0.13 AC lot

118 Illinois St

OFFICE (GENERAL)

118 Illinois St, Lake City, IA 51449-1707

$215,000

Estimated value

792 sqft 0.06 AC lot

114 Illinois St

PROFESSIONAL BUILDING

114 Illinois St, Lake City, IA 51449-1707

$265,000

Estimated value

1,978 sqft 0.13 AC lot

214 Main St

AUTO REPAIR, GARAGE

214 Main St, Lake City, IA 51449-1714

$250,000

Estimated value

3,950 sqft 0.20 AC lot

808 Main St

RESTAURANT

808 Main St, Lake City, IA 51449-1529

$275,000

Estimated value

2,828 sqft 0.28 AC lot

103 37th Rd

RETAIL STORES (PERSONAL SERVICES)

103 37th Rd, Lake City, IA 51449-3033

$630,000

Estimated value

9,100 sqft 1.55 AC lot

1001 Main St

RETAIL STORES (PERSONAL SERVICES)

1001 Main St, Lake City, IA 51449

$240,000

Estimated value

3,840 sqft 1.93 AC lot

304 Hancock St

WAREHOUSE, STORAGE

304 Hancock St, Lake City, IA 51449-1812

$280,000

Estimated value

5,000 sqft 7.00 AC lot

Lake City, IA Commercial Real Estate Market Trends and Statistics

Explore 72 commercial real estate for sale in Lake City, IA on our real estate platform. These investment opportunities span a total of 2,620 square feet of properties for sale, with an estimated market value of $664,000.

Sale prices for business properties in Lake City, IA start at $99,000, averaging $332,000, and reaching up to $565,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Demographics Overview

Population 1,951

Population Growth (5Y) -9.7%

Median Household Income $66,750

College Educated 24.8%

High-Yield Neighborhoods for Investment

Identify Lake City submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
51449	$221.3K

Taxes & Financing

Tax Rate (average for all types) 1.94%

Property Tax per SF $20.02 per SF

Tax Rate vs County Average 0.25 pp above county avg

Average Loan-to-Value 65.0%

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