Divisible Retail Storefront
121 W Main St Solon, IA 52333
For Sale
$478,000
Single contiguous 3,638 SF retail commercial space offered as a package, with potential to divide into two units.
Property Size1,819 SF
Price / SF$262.78
Days on Market33
Property Features for 121 W Main St
General Information
- Standard status
- Active
- Size
- 1,819 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2017
Listing Agency:
RE/MAX CONCEPTS
(319) 333-2886
Listed By:
Ali Rashid
(319) 333-2886
Source:
Pinnaclerealtyia
Added: Jun 22
Changed: Jul 23
Last Checked: Jul 24 at 5:37AM
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 RE/MAX CONCEPTS
Investment Insights
Based on property information with market context.
This offering consists of 3,638 SF of commercial retail space, currently configured as one contiguous area. The property is marketed as a package and also presents the potential to be divided into two approximately 1,819 SF units, creating additional flexibility for different buyer needs.
For buyers interested in the individual unit configurations, the proposed division options are referenced in MLS Listings #202603961 (Units 102 & 103) and #202603962 (Unit 102).
The space is being presented based on these contiguous and proposed split configurations, making it suitable for purchasers looking for a straightforward package layout or the option to separate into two smaller units.
For buyers interested in the individual unit configurations, the proposed division options are referenced in MLS Listings #202603961 (Units 102 & 103) and #202603962 (Unit 102).
The space is being presented based on these contiguous and proposed split configurations, making it suitable for purchasers looking for a straightforward package layout or the option to separate into two smaller units.
Key Highlights
- 3,638 SF contiguous commercial space marketed as a package
- Potential to divide into two approximately 1,819 SF units
- Year built: 2017
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 | $26.2k | $14.40 |
| − Vacancy | −$1.6k | −$0.86 |
| EGI | $24.6k | $13.54 |
| − OpEx | −$7.4k | −$4.06 |
| NOI | $17.2k | $9.48 |
1,819 SF · lease $14.40/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$246.2K
$215.4K – $287.3K
NOI $17,235 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$395.1K
$345.8K – $461.0K
NOI $27,660 @ 7.0% cap · market cap 5.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
FAQs
What type of property is this?
Storefront property - Single contiguous 3,638 SF retail commercial space offered as a package, with potential to divide into two units.
Where is this storefront property located?
The property is located at 121 W Main St Solon, IA.
What is the asking price?
The asking price for this property is $478,000.
What are key features of this property?
This property features: 3,638 SF contiguous commercial space marketed as a package; Potential to divide into two approximately 1,819 SF units; Year built: 2017
