1208 Willis Ave, Perry, IA 50220
This exceptional Perry, Iowa commercial property, located at 1208 Willis Avenue, presents a compelling value-add investment opportunity. The 9,920 square foot building, constructed in 1946 and extensively renovated in 2023, sits on a 0.26-acre lot and is currently vacant. Its versatile layout, previously used as a bank, restaurant, and storefront, offers significant potential for a variety of commercial uses. The property boasts a single story, with a main level ceiling height ranging from 14 to 16 feet and a basement ceiling height of 8.5 feet. The building is classified as Class C and is zoned for commercial use. Its prominent location in Perry provides excellent visibility and accessibility within the local market. The property's ample space and modern amenities make it an ideal choice for investors seeking to expand their portfolio. The Dallas County property (APN: 0210314009) is listed at $675,000. This is a rare chance to acquire a substantial commercial property in a thriving Iowa community.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
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No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.