Historic Storefront with Rear
For Sale
$59,000
1318 2nd Street, Perry, IA 50220
CommercialSale, Perry, IA
Property Size504 SF
Lot Size0.08 Acres
Price / SF$117.06
Days on Market106
Property Features for 1318 2nd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Comm
Lot features
Rectangular Lot
Directions
Hwy 141 to 1st Ave in Perry. North on 1st. Right (East) on Lucinda. Left (North) on 2nd St. Property on Right. Susie's Shop.
Subdivision
Perry
Standard status
Active
APN
0210306003
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
N25' S27' LOT 8 BLK 46
Tax Annual Amount
478
Legal Description
N25' S27' LOT 8 BLK 46
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1931
Building materials
Block
Listing Agency:
Platinum Realty LLC
(888) 220-0988
Listed By:
Nancy Wilson
(515) 360-0653
Added: Jun 24
Changed: Aug 19
Last Checked: Oct 7 at 10:06AM
MLS# 743837
Copyright © 2026 Des Moines Area Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This registered historic commercial building at 1318 2nd Street contains 504 square feet arranged with a primary retail or office area, two smaller offices, and a restroom. Constructed in 1931 with block construction, the property is zoned Comm and has electric heating.
A 0.0803-acre rear lot extends the property and includes alley access. The lot can accommodate parking or outdoor use and is located along the main business street in downtown Perry. Public water and public sewer serve the property.
A 0.0803-acre rear lot extends the property and includes alley access. The lot can accommodate parking or outdoor use and is located along the main business street in downtown Perry. Public water and public sewer serve the property.
Key Highlights
- 504 square feet of commercial space
- 0.0803‑acre rear lot with alley access
- Registered historic property constructed in 1931
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,123
Cap Rate
8.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$102,460
$102.5K
Cap Rate 7%
$73,186
$73.2K
Cap Rate 9%
$56,922
$56.9K
Market Conditions
NOI Build-Up for 504 SF
Gross rent
$7.6K $15.00/SF
− Vacancy
−$242 −$0.48/SF
EGI
$7.3K $14.52/SF
− OpEx
−$2.2K −$4.36/SF
NOI
$5.1K $10.16/SF
Area
Dallas County, IA
Vacancy
3.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$102,460
Cap Rate 7%
$73,186
Cap Rate 9%
$56,922
Alternative Uses
Best Use
Office B
$94.9K
$83.0K – $110.7K
NOI $6,641 @ 7.0% cap · market cap 11.26%
Second Best
Retail
$73.2K
$64.0K – $85.4K
NOI $5,123 @ 7.0% cap · market cap 8.68%
Theoretical Best
Flex RnD
$485.2K
$424.5K – $566.0K
NOI $33,962 @ 7.0% cap · market cap 57.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
317
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50220, IA
9,045
Population
3,925
Households
2.3
Avg Household Size
37
Median Age
17%
College-Educated
87%
High-School Grad
100.5 sq mi
ZIP Area
90
Density / Sq Mi
$68,750
Median Household Income
$38,195
Median Earnings
$883
Median Rent
$146,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Storefront property - Registered historic building with retail or office space, two smaller offices, and a restroom.
Where is this storefront property located?
The property is located at 1318 2nd Street Perry, IA.
What is the asking price?
The asking price for this property is $59,000.
What are key features of this property?
This property features: 504 square feet of commercial space; 0.0803‑acre rear lot with alley access; Registered historic property constructed in 1931
