Breakfast Diner with
For Sale
$250,000
2720 Willis Ave, Perry, IA 50220
Building and diner equipment are offered together as-is, with several improvements completed since 2016.
Property Size1,152 SF
Price / SF$217.01
Days on Market465
Property Features for 2720 Willis Ave
General Information
Standard status
Active
Size
1,152 SF
Property subtype
Commercial
Additional Details
Equipment Included
Yes
Building Details
Year Built
1970
Listing Agency:
Realty ONE Group Impact
Listed By:
Wayde Burkhart (515) 770-3895
(515) 770-3895
Source:
Desmoineshomesforsale
Added: Jul 7, 2025
Changed: Oct 1
Last Checked: Oct 12 at 7:53PM
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 Realty ONE Group Impact
Investment Insights
Based on property information with market context.
This breakfast diner includes the building and equipment in an as-is sale. The property contains 1,152 square feet and was constructed in 1970, providing an established physical setting for restaurant operations.
Improvements completed since 2016 include work to the parking lot, flooring, and much of the diner equipment. The property is located at 2720 Willis Ave in Perry, Iowa, within a small-town community.
Improvements completed since 2016 include work to the parking lot, flooring, and much of the diner equipment. The property is located at 2720 Willis Ave in Perry, Iowa, within a small-town community.
Key Highlights
- 1,152‑square‑foot breakfast diner building
- Building and diner equipment included in the sale
- Offered together as‑is
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,308
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$286,160
$286.2K
Cap Rate 7%
$204,400
$204.4K
Cap Rate 9%
$158,978
$159.0K
Market Conditions
NOI Build-Up for 1,152 SF
Gross rent
$20.7K $18.00/SF
− Vacancy
−$1.7K −$1.44/SF
EGI
$19.1K $16.56/SF
− OpEx
−$4.8K −$4.14/SF
NOI
$14.3K $12.42/SF
Area
Dallas County, IA
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$286,160
Cap Rate 7%
$204,400
Cap Rate 9%
$158,978
Alternative Uses
Best Use
Specialty Retail
$204.4K
$178.9K – $238.5K
NOI $14,308 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$1.11M
$970.3K – $1.29M
NOI $77,626 @ 7.0% cap · market cap 31.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
171
Businesses Nearby
2k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 93%
Hotels & Casinos 7%
Pizza Hut
Dining
1,986 visits/mo
0.2 miles
Super 8 Perry IA
Hotels & Casinos
161 visits/mo
0.5 miles
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
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- The Lou's Diner — 2720 Willis Ave, Perry, IA 50220
Frequently Asked Questions
What type of property is this?
Breakfast & diner - Building and diner equipment are offered together as-is, with several improvements completed since 2016.
Where is this breakfast & diner located?
The property is located at 2720 Willis Ave Perry, IA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,152‑square‑foot breakfast diner building; Building and diner equipment included in the sale; Offered together as‑is
