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    111 State St Mason City, IA 50401

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    For Sale
    Contact for pricing

    Executive Office Space - NNN Lease

    Property size:
    113,022 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 113,022 square foot executive office building, located at 111 W State Street in Mason City, Iowa, presents a compelling investment opportunity. Constructed in 1990 and extensively renovated in 2018, the property sits on a generous 8.21-acre lot within the Z-5 Central Business District (Cerro Gordo County, zip code 50401). Currently occupied by Principal Life Insurance Company under a single-tenant, NNN lease with approximately one year remaining, the lease includes annual rent increases of 1%. The landlord is responsible for maintaining the roof, foundation, underground utilities, structural components, and exterior walls. Ample parking is available, catering to a wide range of potential tenants. The building benefits from its strategic location in a revitalized area of Mason City, adjacent to a newly constructed ice arena. This prime location, coupled with the strong local workforce serving Principal Financial Group's pension operations, makes this property highly attractive for a variety of business types. The property's size and features make it ideal for a corporate headquarters or a large-scale office operation. This is a rare opportunity to acquire a well-maintained, high-profile building in a growing Iowa market.

    Property Features for 111 State St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    113,022 SF
    Lot Size
    357,628 SF

    Building Details

    Year Built/Renovated
    1990/2018

    HighLights

    • 113,022 SF Executive Office building in Mason City, IA.
    • Single‑tenant, NNN lease with Principal Life Insurance Company.
    • Approximately 1 year remaining on lease with 1% annual rent increases.
    • Landlord responsible for roof, foundation, structure, and exterior walls.
    • Located in Mason City's Central Business District (Z‑5 zoning) on an 8.21‑acre lot, built in 1990 and renovated in 2018.
    Property Profile Location Intelligence

    Current Use by Public Records

    Shazam Atm Atm Masonite Corporation Door Manufacturer

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Mason City
    County
    Cerro Gordo
    State
    Iowa
    Longitude
    -93.2034485
    Latitude
    43.1515139

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    FAQs

    What type of property is this?
    Office Property / Space - Executive Office Space - NNN Lease
    Where is this office property / space located?
    The property is located at 111 State St Mason City, IA.
    What are key features of this property?
    This property features: 113,022 SF Executive Office building in Mason City, IA.; Single-tenant, NNN lease with Principal Life Insurance Company.; Approximately 1 year remaining on lease with 1% annual rent increases.
    (515) 554-7412
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    111 State St Mason City, IA 50401
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    Mason City, IA 50401
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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
    111 State St Mason City, IA 50401
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