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    3533 Main St Keokuk, IA 52632

    Sponsored
    For Sale
    $850,000

    High-yield shopping center, 5 tenants, 100% occupied.

    Property size:
    22,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional Keokuk, IA shopping center presents a compelling value-add investment opportunity. The 22,200 square foot, single-story building, constructed in 1997 and situated on a 13.69-acre lot, boasts 100% occupancy with five tenants, including two credit tenants. The property features a recently resurfaced parking lot with 120 spaces, providing ample convenience for shoppers and employees. Located at 3533 Main St, the center benefits from high visibility on a major thoroughfare with 12,100 vehicles passing daily, providing excellent access to customers. The current Net Operating Income (NOI) is $65,085, with a pro-forma NOI of $88,723, reflecting a potential for significant revenue growth. The property is zoned C-Commercial, allowing for flexibility in future development. The current lease type is NNN, with a five-year lease term and two years remaining on the current agreements. Rent bumps are included in the lease agreements. The asking price is $850,000, representing a current cap rate of 7.66% and a pro-forma cap rate of 10.44%. This investment offers a strong foundation for long-term growth and profitability in the thriving commercial landscape of Southeast Iowa. The property's size and location provide significant potential for future expansion and diversification of revenue streams.

    Property Features for 3533 Main St

    General Information

    Property type
    Lifestyle centers
    Square Feet
    22,200 SF
    Class
    B
    Lot Size
    596,336 SF

    Building Details

    Year Built
    1997
    Buildings
    1
    Stories
    1
    Units
    5

    HighLights

    • 22,200 SF, five‑unit commercial building.
    • Built in 1997, C‑zoned.
    • High‑traffic location on Main St, 12,100 VPD.
    • 100% occupancy with two credit tenants.
    • 13.69‑acre site.
    • $65,085 annual NOI.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    Suggested Use

    Restaurant Spa & Massage Building Supply Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store Nail Salon Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Keokuk
    County
    Lee
    State
    Iowa
    Longitude
    -91.410633405252
    Latitude
    40.423185863655

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    FAQs

    What type of property is this?
    Lifestyle center - High-yield shopping center, 5 tenants, 100% occupied.
    Where is this lifestyle center located?
    The property is located at 3533 Main St Keokuk, IA.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: 22,200 SF, five-unit commercial building.; Built in 1997, C-zoned.; High-traffic location on Main St, 12,100 VPD.
    Request Owner's contact information
    3533 Main St Keokuk, IA 52632
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    Keokuk, IA 52632
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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
    3533 Main St Keokuk, IA 52632
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