Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    328 E Main Street, Ottumwa, IA 52501

    View on Map
    Claim this Listing
    For Sale
    $335,000

    COMMERCIAL - Other - Ottumwa, IA

    Lot size:
    0.08 Acres
    Added:
    Apr 19, 2026
    Days on Market:
    43
    Last Refresh:
    May 31 at 9:06 pm

    Property Features for 328 E Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    007411240296000
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    OTTUMWA ORIGINAL-MID OTTUMWA ORIGINAL-MID 22'LOT 341 BLK 30 22' LOT 341 BLK 30 AKA-NW 22'OF SE 44' AKA-NW 22'OF SE 44' LOT 341 BLK 30 (328 LOT 341 BLK 30 (328 E MAIN) E MAIN) (328 E MAIN SUITE 101 - 1
    Tax Annual Amount
    3830

    Utilities

    Heating system
    Forced Air
    Water source
    Public
    Water front features
    River Front

    Building Details

    Year built
    1880
    Number of units
    3
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Trisha Rea

    Listing agent Trisha Rea License #***

    Listing office Bridge City Realty 301 W Fourth St, Ottumwa, IA

    Listing date Apr 19, 2026

    MLS# 6337395

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

    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Ottumwa
    County
    Wapello
    State
    Iowa
    Longitude
    -92.409719
    Latitude
    41.015443

    Nearby Similar for Sale

    • $179,000

      Well-Maintained Commercial Building in Ottumwa

      Versatile commercial space in high-traffic area, ideal for various uses.
      1429 Albia Road, Ottumwa, IA 52501
      View Details
    • $125,000
      2,667 SF

      Income-Producing Commercial Building in Ottumwa

      Well-maintained commercial building with income potential in Church Street district.
      501 N Sheridan Avenue, Ottumwa, IA 52501
      View Details
    • $275,000

      Ottumwa Commercial Space with Office

      Versatile commercial space with office and secure fenced lot.
      617 Church Street, Ottumwa, IA 52501-1151
      View Details
    • $130,000
      1,482 SF

      Move-in Ready Ottumwa 3-Plex

      Remodeled 3-plex near downtown Ottumwa, ideal for investors.
      147 N Ward Street, Ottumwa, IA 52501
      View Details
    • $130,000

      Downtown Ottumwa Mixed-Use Opportunity

      Two-level penthouse with retail/office potential in downtown Ottumwa.
      314 E Main Street Unit 314 E Main, Ottumwa, IA 52501
      View Details
    • $75,000
      1,967 SF

      Ottumwa Duplex: Investment Opportunity

      Up/down duplex in prime rental area with strong cash flow.
      2310 E Main Street, Ottumwa, IA 52501
      View Details
    • $2,000,000
      21,198 SF

      Downtown Ottumwa Office Space

      21,198 SF office space in downtown Ottumwa, Iowa.
      127 E Main Street, Ottumwa, IA 52501
      View Details
    • $3,370,000
      11,400 SF

      New Retail Construction NNN Leases

      New construction retail property with NNN leases in Ottumwa.
      1000 Wildwood Drive, Ottumwa, IA, 52501
      View Details
    • $120,000

      Downtown Ottumwa Retail Opportunity

      Retail space in the heart of downtown Ottumwa.
      203 W Second Street, Ottumwa, IA 52501
      View Details
    • $125,000
      9,000 SF

      Spacious Commercial Building with Billboard

      Large commercial space with prominent signage opportunity on Church Street.
      408 Church Street, Ottumwa, IA 52501
      View Details
    • $1,450,000
      26,207 SF

      Ottumwa Office Building For Sale

      26,207 SF Class A office building in Ottumwa, Iowa.
      123 E 3rd St, Ottumwa, IA
      View Details
    • $900,000
      5,760 SF

      Ottumwa Golf Course and Venue

      Family-oriented recreational center with golf course, pool, and venue.
      304 E Golf, Ottumwa, IA 52501
      View Details

    FAQs

    Where is this mixed-use property located?
    The property is located at 328 E Main Street Ottumwa, IA.
    What is the asking price?
    The asking price for this property is $335,000.
    (641) 680-4274
    We can help!
    Listing Contact
    Trisha Rea
    Real Estate License ID: ***
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    328 E Main Street, Ottumwa, IA 52501
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!