Mixed-Use Plaza Storefronts
9 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 9 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 4:40AM
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 rich history. The properties are located in a plaza that is home to the only Frank Lloyd Wright Hotel in the World, along with dining, entertainment, and small businesses. The properties present an opportunity to start a business, lease spaces, and potentially utilize Mason City's programs for updating costs. The storefronts were formerly home to the Bergo family Mercantile stores. The properties include storefronts on the plaza, some with apartments above, and two stores opening to the mall entrance with long-term tenants. The properties include 9 S Federal, 11 S Federal & 10 1st SE. The total property size is 3520 square feet. A new roof has been installed on 9 S Federal, 11 S Federal & 10 1st SE.
Key Highlights
- Package deal: Includes 6 parcels with storefronts and potential apartments.
- Prime location on the plaza, home to the Frank Lloyd Wright Hotel.
- Excellent visibility and high traffic area.
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 9 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 storefronts and potential apartments.; Prime location on the plaza, home to the Frank Lloyd Wright Hotel.; Excellent visibility and high traffic area.
