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    41 Gillet St Preston, IA 52069

    Sponsored
    For Sale
    $106,000

    Historic Restaurant, Retail Space, Iowa

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Preston, Iowa property presents a unique investment opportunity encompassing a thriving restaurant and versatile retail space. Priced at $106,000, this offering includes a substantial building totaling approximately 3,800 square feet situated on land in Jackson County, Iowa, zip code 52069. The main building features a spacious restaurant and bar area, ideal for dining and socializing, measuring approximately 2,900 square feet. A separate 900-square-foot banquet hall provides ample space for events and gatherings. In addition to the restaurant and banquet hall, the property includes valuable retail space, offering flexibility for a variety of business ventures. Practical storage solutions are provided by a walk-in freezer and cooler. Most of the existing restaurant equipment is included in the sale, ensuring a smooth transition for a new owner. The property is being sold "as-is," allowing for creative customization and renovation to suit the buyer's vision. This established location offers significant potential for continued success or a fresh start for a new business. The property's prime location in Preston, Iowa, provides excellent visibility and accessibility. This is a rare chance to acquire a well-established business with significant expansion potential. Don't miss this chance to own a piece of Preston's history and build your future.

    Property Features for 41 Gillet St

    General Information

    Property type
    Restaurants

    Building Details

    Buildings
    1

    HighLights

    • $106,000 asking price for a 3,800 square foot building in Preston, IA (52069).
    • Includes a 2,900 square foot restaurant and bar, plus a 900 square foot banquet hall.
    • Features additional retail space and a walk‑in freezer/cooler.
    • Most restaurant equipment included; sold "as‑is".
    • Excellent visibility and accessibility in a prime Preston location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Dental Office Wholesale Shop Auto Repair Shop Clothing Store Department Store Kitchen & Bath Food Market HVAC Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Preston
    County
    Jackson
    State
    Iowa
    Longitude
    -90.3947058
    Latitude
    42.0503983

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    FAQs

    What type of property is this?
    Restaurant - Historic Restaurant, Retail Space, Iowa
    Where is this restaurant located?
    The property is located at 41 Gillet St Preston, IA.
    What is the asking price?
    The asking price for this property is $106,000.
    What are key features of this property?
    This property features: $106,000 asking price for a 3,800 square foot building in Preston, IA (52069).; Includes a 2,900 square foot restaurant and bar, plus a 900 square foot banquet hall.; Features additional retail space and a walk-in freezer/cooler.
    Request Owner's contact information
    41 Gillet St Preston, IA 52069
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    Preston, IA 52069
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    Realmo Value Estimation

    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.

    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.

    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
    41 Gillet St Preston, IA 52069
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