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    Keokuk Retail Investment Opportunity Title is generated by Realmo AI

    3533 Main St, Keokuk, IA 52632

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    22,200 SF retail property with high visibility and expansion potential.

    Type:Retail
    Property size:
    22,200 SF
    Lot size:
    14.00 Acres
    Price / SF:
    $35/SF
    Added:
    Nov 20, 2024
    Days on Market:
    561
    Last Refresh:
    May 13 at 8:03 pm

    Property Features for 3533 Main St

    General Information

    Standard status
    Active
    Size
    22,200 SF
    Lot size
    14.00 Acres
    Property subtype
    Retail

    Building Details

    Year Built
    1997

    We can help!

    Listing Contact
    Chase Keller, CCIM

    Listing agent Chase Keller, CCIM License #B63136000

    Listing office CHASE. Collective

    Listing date Nov 20, 2024

    Source Crexi

    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 CHASE. Collective

    HighLights

    • High traffic location on Main Street with 12,100 vehicles per day and excellent visibility.
    • Strong occupancy history with only one vacancy and 4 established tenants, including 2 credit tenants.
    • Significant potential to increase rents and boost revenue.
    • Approximately 14 acres of land available for building additional retail or industrial/storage buildings.
    • Newer building (built in 1997) in excellent condition with good mechanicals and a recently resurfaced parking lot.
    • Abundance of parking for tenants and customers.

    Overview

    Located at 3533 Main St, Keokuk, IA, this 22,200 SF property presents a compelling investment opportunity. The property features a recently resurfaced parking lot and a newer building in excellent condition, reflecting a commitment to quality and maintenance. Benefiting from high visibility on the main corridor through town and the highway leading to Illinois and Missouri, the location attracts significant traffic, with 12,100 vehicles per day on Main Street. The property has a strong occupancy history, with only one current vacancy and four tenants, including two credit tenants. There is potential to increase rents over time, offering an opportunity to boost revenue and enhance financial performance. With almost 14 acres of land available, there is ample space to build additional buildings for retail or industrial/storage purposes, potentially diversifying revenue streams and expanding income-generating capacity. The abundance of parking enhances the property's appeal, providing convenience for tenants and customers. This property offers a combination of stability, growth potential, and versatility, making it suitable for those seeking a secure and lucrative opportunity in the retail and strip center market. Its location, tenant base, and acreage make it a choice for investors looking to capitalize on the commercial landscape of SE Iowa and unlock the property's potential for long-term success and value creation. This investment opportunity provides a foundation for investors to establish or expand their presence in the region and benefit from the property's strong performance and capacity for sustained growth and profitability.
    Property Profile Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Restaurant Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Gym & Fitness Center Pharmacy

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

    Similar Places Nearby

    • River City Mall Inc — 300 Main St #490, Keokuk, IA 52632

    Location Insight

    • Map
    • Local Demand
    City
    Keokuk
    County
    Lee
    State
    Iowa
    Longitude
    -91.408235
    Latitude
    40.423938

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    FAQs

    What type of property is this?
    Shopping center - 22,200 SF retail property with high visibility and expansion potential.
    Where is this shopping center located?
    The property is located at 3533 Main St Keokuk, IA.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: High traffic location on Main Street with 12,100 vehicles per day and excellent visibility.; Strong occupancy history with only one vacancy and 4 established tenants, including 2 credit tenants.; Significant potential to increase rents and boost revenue.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Chase Keller, CCIM
    Real Estate License ID: B63136000
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    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.

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