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    Downtown Mixed-Use Investment Property Title is generated by Realmo AI

    206 East Erie Street, Missouri Valley, IA 51555

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    For Sale
    $300,000

    Commercial Sale, Other - Missouri Valley, IA

    Property size:
    2,500 SF
    Price / SF:
    $120/SF
    Added:
    May 22, 2026
    Days on Market:
    12
    Last Refresh:
    Jun 2 at 3:06 pm

    Property Features for 206 East Erie Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active

    Building Details

    Year built
    1904
    Architectural style
    Other

    We can help!

    Listing Contact
    The Cook Team

    Listing agent The Cook Team License #B56296000,PersonLicenseNumber

    Listing office NextHome In The Bluffs 4111 S 9th St, Bay 3, IA

    Listing date May 22, 2026

    MLS# 26-989 Listing URL

    Copyright © 2026 NextHome, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 1904‑built downtown Missouri Valley mixed‑use property with about 2,500 SF commercial frontage on the main level
    • Four remodeled 1‑bedroom apartments upstairs
    • All apartment units are leased and occupied for immediate rental income
    • Renovated in 2022; each unit includes appliances, including washers and dryers
    • Commercial frontage provides a value‑add opportunity to increase cash flow

    Overview

    This downtown mixed-use property combines approximately 2,500 sq. ft. of main-level commercial frontage with four remodeled one-bedroom apartments on the upper level. The residential units have been leased and are currently occupied, creating immediate rental income. Renovated in 2022, each apartment includes all appliances, including washers and dryers, offering tenants day-one convenience. The commercial portion provides strong visibility and supports ongoing revenue, with value-add potential identified for future cash flow improvements.

    Located in Missouri Valley, the property is described as a prime downtown setting with commercial frontage on the main level. Its street-level presence supports retail and service uses that benefit from visibility in a central business area.

    For investors or owner-operators seeking a turnkey mixed-use asset, this structure offers a built-in income stream from both the leased residential units and the commercial frontage. The 2022 renovations and in-place occupancy reduce near-term uncertainty, while the noted value-add potential in the commercial component supports continued growth. This is an attractive fit for buyers looking for a stabilized downtown income property with room to enhance overall performance over time.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mogart Fishing Company ... (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Missouri Valley
    County
    Harrison
    State
    Iowa
    Longitude
    -95.8928746
    Latitude
    41.5562767

    Nearby Similar for Sale

    • $300,000

      Downtown Mixed-Use Investment Property

      Turnkey mixed-use building with leased upstairs apartments and rentable main-level commercial frontage.
      206 West Erie Street, Missouri Valley, IA 51555
      View Details
    • $340,000
      3,976 SF

      Retail Space Available For Sale

      Retail space available for sale with 3976 square feet.
      3153 Joliet Ave, Missouri Valley, IA 51555
      View Details
    • $450,000
      4,000 SF

      Versatile Industrial Property For Sale

      Industrial property with multiple buildings and rental opportunities in prime location.
      501 N 1st Street, Missouri Valley, IA 51555
      View Details

    FAQs

    What type of property is this?
    Quadplex - Turnkey downtown mixed-use opportunity with leased apartments above and income-producing commercial frontage below.
    Where is this quadplex located?
    The property is located at 206 East Erie Street Missouri Valley, IA.
    What is the asking price?
    The asking price for this property is $300,000.
    What are key features of this property?
    This property features: 1904‑built downtown Missouri Valley mixed‑use property with about 2,500 SF commercial frontage on the main level; Four remodeled 1‑bedroom apartments upstairs; All apartment units are leased and occupied for immediate rental income
    (402) 250-2169
    We can help!
    Listing Contact
    The Cook Team
    Real Estate License ID: B56296000,PersonLicenseNumber
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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