Restored Mixed-Use
For Sale
$545,000
325 E Main St, Ottumwa, IA 52501
Downtown property combines an open commercial main level with three remodeled upstairs apartments.
Property Size3,500 SF
Price / SF$155.71
Days on Market55
Property Features for 325 E Main St
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$8,340
Amenities
large storefront windows
exposed brick walls
refinished hardwood floors
new kitchenette area
men's and women's restrooms
Building Details
Buildings
1
Construction
brick
Tenancy
Single
Listing Agency:
RE/MAX Pride Oskaloosa
(641) 676-3456
Listed By:
Jason Carter · License #B61335000
(515) 708-0615
Source:
Exprealty
Added: Sep 3
Changed: Oct 27
Last Checked: Oct 26 at 8:42PM
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 Pride Oskaloosa
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 325 E Main St in downtown Ottumwa, this 3,500-square-foot mixed-use property includes a fully restored commercial building with an open main level. Large storefront windows provide display space, while exposed brick, refinished hardwood floors, a new kitchenette, and separate men's and women's restrooms define the interior. The commercial floor offers a combination of traditional architectural character and updated functional improvements.
Three remodeled apartments occupy the upper level: one two-bedroom, one-bath unit and two one-bedroom, one-bath units. Utilities are paid by the tenants. The property brings together commercial space and residential units within a single downtown building.
Three remodeled apartments occupy the upper level: one two-bedroom, one-bath unit and two one-bedroom, one-bath units. Utilities are paid by the tenants. The property brings together commercial space and residential units within a single downtown building.
Key Highlights
- 3,500‑square‑foot mixed‑use building at 325 E Main St, Ottumwa
- Open commercial main level with large storefront windows
- Exposed brick walls and refinished hardwood floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,650
Cap Rate
6.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$693,000
$693.0K
Cap Rate 7%
$495,000
$495.0K
Cap Rate 9%
$385,000
$385.0K
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$63.0K $18.00/SF
− Vacancy
−$7.6K −$2.16/SF
EGI
$55.4K $15.84/SF
− OpEx
−$20.8K −$5.94/SF
NOI
$34.7K $9.90/SF
Area
Wapello County, IA
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$693,000
Cap Rate 7%
$495,000
Cap Rate 9%
$385,000
Alternative Uses
Best Use
Mixed Use
$495.0K
$433.1K – $577.5K
NOI $34,650 @ 7.0% cap · market cap 6.36%
Second Best
Retail
$346.7K
$303.4K – $404.5K
NOI $24,268 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$765.6K
$669.9K – $893.2K
NOI $53,592 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
934
Businesses Nearby
Explore this area
Business Placement
Demographics for 52501, IA
30,313
Population
13,654
Households
2.2
Avg Household Size
38
Median Age
20%
College-Educated
87%
High-School Grad
225.3 sq mi
ZIP Area
135
Density / Sq Mi
$59,091
Median Household Income
$40,173
Median Earnings
$955
Median Rent
$109,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown property combines an open commercial main level with three remodeled upstairs apartments.
Where is this mixed-use property located?
The property is located at 325 E Main St Ottumwa, IA.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: 3,500‑square‑foot mixed‑use building at 325 E Main St, Ottumwa; Open commercial main level with large storefront windows; Exposed brick walls and refinished hardwood floors
