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    222 2Nd St Eldridge, IA 52748

    For Sale
    $325,000

    Iowa Commercial Building w/ 4 Tenants

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a prime commercial property located at 222 N 2nd Street, Eldridge, IA 52748. Built in 1873, this single-level building offers 4 separate commercial units, each boasting its own half-bath and independent access points with convenient curbside access. Currently generating substantial income with four thriving businesses as tenants: a barbershop, a dog grooming facility, a nutrition vendor, and a chiropractic office. The leases provide instant income, with a combined monthly gross rent of $2,900 ($925, $750, $650, and $575 per unit). The current lease agreement expires in March 2025. The property is offered at an asking price of $325,000. Landlord responsibilities include sewer and trash services, while tenants are responsible for all other utilities. This property presents a rare chance to acquire a well-established, multi-tenant commercial building in a desirable location with a strong rental history. The property's location in Eldridge, Iowa, offers easy access to major transportation routes and a thriving local community. This is an ideal investment for those seeking a stable, income-generating asset with significant potential for future growth. The property is classified as Land, Retail, and Office. The building's age and character add to its unique appeal. This is a turnkey operation ready for a new owner to step in and continue the success.

    Property Features for 222 2Nd St

    General Information

    Property type
    Office Properties & Spaces

    Building Details

    Year Built
    1873
    Buildings
    1

    HighLights

    • $325,000 asking price.
    • Eldridge, IA commercial property at 222 N 2nd Street, 52748.
    • Land, retail, and office property types; one building, built in 1873.
    • Four separate commercial units generating $2,900 monthly gross rent ($925, $750, $650, $575).
    • Leases expire March 2025; landlord pays sewer and trash; tenants pay other utilities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Pawsitively Purrfect Pet ... Pet Groomer

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Eldridge
    County
    Scott
    State
    Iowa
    Longitude
    -90.584807
    Latitude
    41.657153

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    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Office Property / Space - Iowa Commercial Building w/ 4 Tenants
    Where is this office property / space located?
    The property is located at 222 2Nd St Eldridge, IA.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: $325,000 asking price.; Eldridge, IA commercial property at 222 N 2nd Street, 52748.; Land, retail, and office property types; one building, built in 1873.
    Request Owner's contact information
    222 2Nd St Eldridge, IA 52748
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    Eldridge, IA 52748
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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
    222 2Nd St Eldridge, IA 52748
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