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    The Largest CRE Database in the US with Over 1 Million Listings

    8989 Koestner St Burlington, IA 52601

    Sponsored
    For Sale
    $850,000

    Turnkey Entertainment Complex, 2 Acres

    Property size:
    1,620 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    410
    This exceptional turnkey business opportunity in Burlington, IA, presents a rare chance to acquire a well-established entertainment complex. The property encompasses 2 acres and includes a 1,620 sq ft, 2-bedroom, 2-bathroom brick home built in 1972. The main building, a 60' x 160' structure, houses a 60' x 120' maple wood floor skating rink, the heart of Kenny's Roller Ranch, a 96-year-old Burlington institution. The property also boasts an 18-hole mini-golf course, basketball bank shot, and batting cages (slow-pitch softball, slow-pitch baseball, and fast-pitch baseball). All equipment, including 41 inline and 410 quad rental skates, pro-shop inventory, snack bar supplies, sound and computer equipment, and arcade games, is included in the sale. Ample storage is available in an attached 28' x 50' two-car garage and a separate 28' x 48' metal building with three garage doors. The home features a finished basement with a non-conforming bedroom, a second bathroom, laundry area, and storage. An attached garage has been converted into a recreation space. The property also includes a fenced yard, above-ground pool, and garden area. Located on a quiet dead-end street near Crapo Park & Dankwardt Memorial Park, this property offers a serene setting while being conveniently close to Burlington Regional Airport. Annual property taxes are $4,208. This multi-revenue stream business is ready for a new owner to take the reins.

    Property Features for 8989 Koestner St

    General Information

    Property type
    Investment properties
    Square Feet
    1,620 SF
    Lot Size
    87,120 SF

    Building Details

    Year Built
    1972

    We can help!

    Listing Contact
    Talia Hatfield
    Talia Hatfield

    Learn more

    HighLights

    • Kenny's Roller Ranch: Burlington, IA Business Opportunity For Sale
    • Iowa Homes and Businesses For Sale
    • Burlington, IA Commercial Property: Entertainment Complex For Sale
    • Turnkey Entertainment Business: Roller Skating Rink, Miniature Golf, Batting Cages
    • Southeastern Iowa Business Opportunity: Established Entertainment Venue For Sale
    • Roller Skating Rink Business For Sale in Iowa
    Property Profile Location Intelligence

    Current Use by Public Records

    Kenny's Mini Golf Miniature Golf Course Kenny's Roller Ranch Roller Skating Rink

    Suggested Use

    Realty agency Clothing Store Pharmacy Electrical Service Car Rental Daycare Center Women's Store Cosmetics Store Tailor Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Burlington
    County
    Des Moines
    State
    Iowa
    Longitude
    -91.1041116
    Latitude
    40.7742475

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    FAQs

    What type of property is this?
    Investment property - Turnkey Entertainment Complex, 2 Acres
    Where is this investment property located?
    The property is located at 8989 Koestner St Burlington, 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: Kenny's Roller Ranch: Burlington, IA Business Opportunity For Sale; Iowa Homes and Businesses For Sale; Burlington, IA Commercial Property: Entertainment Complex For Sale
    Request Owner's contact information
    8989 Koestner St Burlington, IA 52601
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    Burlington, IA 52601
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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.

    More about this property
    8989 Koestner St Burlington, IA 52601
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    We can help!
    Listing Contact
    Talia Hatfield
    Talia Hatfield
    Real Estate License ID: MO 2014042868
    Learn more
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