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Mixed-Use Plaza Frontage Opportunity

10 1st SE St Mason City, IA 50401

10 1st SE St, Mason City, IA, 50401

$730,000

For Sale

$730,000

Six parcels with storefronts, apartments, and business potential.

Property Size4,554 SF

Price / SF$160.30

AddedOct 30, 2024

Days on Market624

Last RefreshJul 4 at 3:15 pm

Property Features for 10 1st SE St

General Information

Standard status: Active
Size: 4,554 SF
Property subtype: Commercial/Industrial

Building Details

Year Built: 1978

Listing office HILDEBRAND REAL ESTATE

Listing date Oct 30, 2024

Source Exitrealty

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of HILDEBRAND REAL ESTATE

Investment Insights

Based on property information with market context.

This offering comprises a package of six parcels with excellent visibility and a mix of storefronts and apartments. The properties are located on the plaza, near the Frank Lloyd Wright Hotel, dining, entertainment, and small businesses. The storefronts, some with apartments above, present opportunities for business ventures or leasing. Additionally, there are two stores opening up to the mall entrance with long-term tenants. The properties were formerly home to the Bergo family Mercantile stores for many years. A new roof has been installed on 9 S Federal, 11 S Federal & 10 1st SE. The total property size is 4554 square feet.

Key Highlights

Package deal: Includes 6 parcels of property.
Prime location on the plaza, home to the Frank Lloyd Wright Hotel.
Excellent visibility and high‑traffic area.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$54.6k	$12.00
− Vacancy	−$4.4k	−$0.96
EGI	$50.3k	$11.04
− OpEx	−$15.1k	−$3.31
NOI	$35.2k	$7.73

4,554 SF · lease $12.00/SF/yr · vacancy 8.00% · expense 30.00%

Alternative Uses

Best Use

Retail

$502.8K

$439.9K – $586.6K (±1% cap)

NOI $35,193 @ 7.0% cap · market cap 4.82%

Second Best

—

no second resolved use

Theoretical Best

Office A

$1.14M

$1.00M – $1.33M (±1% cap)

NOI $80,022 @ 7.0% cap · market cap 10.96%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Mason City IT ... City Government Office Mason City Clerks ... City Government Office Mason City Water ... Water Utility Company ChargePoint Charging Station Electric Vehicle Charging Station CIty of Mason CIty ... Golf Course

Suggested Use

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What type of property is this?

Storefront property - Six parcels with storefronts, apartments, and business potential.

Where is this storefront property located?

The property is located at 10 1st SE St Mason City, IA.

What is the asking price?

The asking price for this property is $730,000.

What are key features of this property?

This property features: Package deal: Includes 6 parcels of property.; Prime location on the plaza, home to the Frank Lloyd Wright Hotel.; Excellent visibility and high‑traffic area.