Mixed-Use Plaza Properties
11 S Federal Ave Mason City, IA 50401
For Sale
$730,000
Pending
Six parcels with storefronts, apartments, and business opportunities.
Property Size3,520 SF
Days on Market637
Property Features for 11 S Federal Ave
General Information
Standard status
Pending
Size
3,520 SF
Property subtype
Commercial/Industrial
Building Details
Year Built
1928
Listing Agency:
HILDEBRAND REAL ESTATE
(641) 425-0363
Listed By:
TIMOTHY LATHAM · License #S44162
(641) 425-0363
Source:
Exitrealty
Added: Oct 31, 2024
Changed: Jul 10
Last Checked: Jul 23 at 3:59AM
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, presenting a mix of historical significance, prime location, and diverse opportunities. The properties are situated in a plaza, home to the only Frank Lloyd Wright Hotel in the World, alongside dining, entertainment, and small businesses. The storefronts, some with apartments above, front the plaza, while two additional stores with long-term tenants open to the mall entrance. These properties offer the potential to start a business, lease spaces, and explore Mason City's programs for renovation cost assistance. Historically, the storefronts housed the Bergo family Mercantile stores. Included in the sale are properties at 9 S Federal, 11 S Federal, and 10 1st SE, which have a new roof. The total property size is 3520 square feet.
Key Highlights
- Package deal: Includes 6 parcels with multiple storefronts and potential apartments.
- Prime location on the plaza, home to the Frank Lloyd Wright Hotel.
- Excellent visibility and high traffic area for business opportunities.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $42.2k | $12.00 |
| − Vacancy | −$3.4k | −$0.96 |
| EGI | $38.9k | $11.04 |
| − OpEx | −$11.7k | −$3.31 |
| NOI | $27.2k | $7.73 |
3,520 SF · lease $12.00/SF/yr · vacancy 8.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$388.6K
$340.0K – $453.4K
NOI $27,203 @ 7.0% cap · market cap 3.73%
Second Best
Mixed Use
$339.4K
$297.0K – $396.0K
NOI $23,760 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$883.6K
$773.2K – $1.03M
NOI $61,853 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Six parcels with storefronts, apartments, and business opportunities.
Where is this mixed-use property located?
The property is located at 11 S Federal Ave 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 with multiple storefronts and potential apartments.; Prime location on the plaza, home to the Frank Lloyd Wright Hotel.; Excellent visibility and high traffic area for business opportunities.
