Restaurant with Plaza
5 S Federal Ave, Mason City, IA 50401
For Sale
New
$359,900
Indoor dining and outdoor seating support a Mexican food and beverage concept in a downtown pedestrian plaza.
Property Size2,200 SF
Price / SF$163.59
Days on Market1
Property Features for 5 S Federal Ave
General Information
Standard status
Size
Property subtype
Restaurant
Patio
Equipment Included
Additional Details
Furnished
Business Included
Currently Operating
Building Details
Year Built
Listing Agency:
CENTURY 21 PREFERRED NORTHWOOD
Listed By:
Julie Hagen Robb · License #115
(641) 390-0007
Source:
Janefischer
Added: Nov 6
Last Checked: Nov 6 at 2:46PM
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 CENTURY 21 PREFERRED NORTHWOOD
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Investment Insights
Based on property information with market context.
This 2,200-square-foot restaurant property, built in 1875, combines indoor dining with patio seating. The offering includes the building and operating business, along with equipment, furnishings, and inventory. The restaurant serves traditional Mexican dishes and offers a broad beverage menu.
Located at 5 S Federal Ave in downtown Mason City, the property sits on a pedestrian plaza. The current owners are willing to provide training on the menu and operations as part of the transition.
Located at 5 S Federal Ave in downtown Mason City, the property sits on a pedestrian plaza. The current owners are willing to provide training on the menu and operations as part of the transition.
Key Highlights
- Building and operating restaurant business offered with equipment, furnishings, and inventory
- 2,200‑square‑foot restaurant with indoor dining and outdoor patio seating
- Located on a pedestrian plaza in downtown Mason City
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,894
Cap Rate
6.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$457,880
$457.9K
Cap Rate 7%
$327,057
$327.1K
Cap Rate 9%
$254,378
$254.4K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$33.0K $15.00/SF
− Vacancy
−$2.5K −$1.13/SF
EGI
$30.5K $13.88/SF
− OpEx
−$7.6K −$3.47/SF
NOI
$22.9K $10.41/SF
Area
Cerro Gordo County, IA
Vacancy
7.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$457,880
Cap Rate 7%
$327,057
Cap Rate 9%
$254,378
Alternative Uses
Best Use
Specialty Retail
$327.1K
$286.2K – $381.6K
NOI $22,894 @ 7.0% cap · market cap 6.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$552.3K
$483.2K – $644.3K
NOI $38,658 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50401, IA
28,981
Population
14,746
Households
2
Avg Household Size
43
Median Age
22%
College-Educated
94%
High-School Grad
148.2 sq mi
ZIP Area
196
Density / Sq Mi
$63,807
Median Household Income
$38,929
Median Earnings
$868
Median Rent
$134,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Indoor dining and outdoor seating support a Mexican food and beverage concept in a downtown pedestrian plaza.
Where is this conventional restaurant located?
The property is located at 5 S Federal Ave Mason City, IA.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Building and operating restaurant business offered with equipment, furnishings, and inventory; 2,200‑square‑foot restaurant with indoor dining and outdoor patio seating; Located on a pedestrian plaza in downtown Mason City
