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240 Center St Elgin, IA 52141

For Sale
$150,000

Historic Restaurant, Income Potential, Updated

Property size:
4,892 SF

Description

Added:
Feb 3, 2025
Days on Market:
308
This exceptional commercial property, located at 240 Center Street in Elgin, Iowa, presents a unique investment opportunity. Situated in the picturesque town known as "Little Switzerland," this building enjoys a prime location near the Turkey River and Gilbertson's campground, ensuring high visibility and foot traffic. The property's history as the former Dotzy's restaurant adds to its charm, featuring a distinctive penny mosaic floor and a legacy as a recipient of the 2019 Iowa Cattleman's Top 10 Burger award. The building offers significant income potential with two existing apartments: a two-bedroom unit and a one-bedroom unit, both located at the rear of the first floor and currently generating rental income. Significant improvements have been made to the property, including a new TPO membrane roof installed in 2021, updated kitchen flooring, and the complete restoration of the second story to create usable space. The building encompasses 4,892 square feet and sits on a 0.1-acre lot. This property is ideal for a variety of commercial uses and offers a compelling blend of history, income generation, and recent renovations. The asking price is $150,000.

Property Features for 240 Center St

General Information

Property type
Other commercial real estate
Square Feet
4,892 SF
Lot Size
4,356 SF

Building Details

Year Built
1945

Property Profile Insight Report Location Intelligence

Current Use by Public Records

Valley Community Coalition Addiction Treatment Center

Suggested Use

Realty agency Restaurant Law Firm Hair Salon Clothing Store Auto Repair Shop Gym & Fitness Wholesale Shop Accounting Firm Bar & Pub

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

Location Insight

  • Map
  • Local Demand
City
Elgin
County
Fayette
State
Iowa
Longitude
-91.63016
Latitude
42.95758

FAQs

What type of property is this?
Commercial real estate - Historic Restaurant, Income Potential, Updated
Where is this commercial real estate located?
The property is located at 240 Center St Elgin, IA.
What is the asking price?
The asking price for this property is $150,000.
More about this property
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