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    409 Driftwood St Correctionville, IA 51016

    Sponsored
    For Sale
    $80,000

    Prime Commercial Space - Two Buildings

    Property size:
    3,172 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional commercial property, located at 409 Driftwood St in Correctionville, Iowa, presents a unique investment opportunity. The property consists of two buildings totaling 3,172 square feet, situated on a 0.14-acre lot. Built in 1910, this single-story structure offers versatile space ideal for a variety of commercial uses. The interior layout includes three private offices, two open work areas, a dedicated conference room, and substantial back storage. The buildings can be utilized as a single cohesive unit or easily subdivided to create two separate storefronts, catering to diverse business needs. Ample parking is conveniently located at the rear of the property. This move-in ready property is offered for sale at $80,000, or available for lease at $1,500 per month on a triple net (NNN) basis, with tenant responsibility for taxes, insurance, and maintenance. The property's central location in downtown Correctionville, Iowa, zip code 51016, ensures high visibility and accessibility. This is a rare opportunity to acquire a well-maintained, adaptable commercial space in a thriving community. The property is zoned for commercial use.

    Property Features for 409 Driftwood St

    General Information

    Property type
    Land
    Square Feet
    3,172 SF
    Lot Size
    6,098 SF

    Building Details

    Year Built
    1910
    Stories
    1

    HighLights

    • Exceptional investment opportunity: Two‑building, 3,172 sq ft commercial property in Correctionville, IA.
    • 0.14‑acre lot, single‑story, built in 1910.
    • Versatile interior: three private offices, two open work areas, conference room, ample storage.
    • Can be used as a single unit or subdivided into two storefronts.
    • $80,000 sale price or $1,500/month NNN lease.
    • High‑visibility downtown Correctionville location (51016), ample rear parking.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dixon Construction Co Construction Company

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Correctionville
    County
    Woodbury
    State
    Iowa
    Longitude
    -95.7863447
    Latitude
    42.4746089

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    FAQs

    What type of property is this?
    Land - Prime Commercial Space - Two Buildings
    Where is this land located?
    The property is located at 409 Driftwood St Correctionville, IA.
    What is the asking price?
    The asking price for this property is $80,000.
    What are key features of this property?
    This property features: Exceptional investment opportunity: Two-building, 3,172 sq ft commercial property in Correctionville, IA.; 0.14-acre lot, single-story, built in 1910.; Versatile interior: three private offices, two open work areas, conference room, ample storage.
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    Correctionville, IA 51016
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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
    409 Driftwood St Correctionville, IA 51016
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