2781 4Th St Mason City, IA 50401
- Mixed-use properties
- 40,000 SF
- 7.22 lot acres
Current Use by Public Records
- Willow Inn Motel / Motel
Property Details for 2781 4Th St
- Year built
- 1955
- Lot size
- 7.22 lot acres
- Property size
- 40,000 SF
- Property type
- Mixed-use properties
Description
This exceptional mixed-use investment portfolio in Mason City, Iowa, presents a compelling value-add opportunity. Priced at $2,400,000 ($60/sq ft), the portfolio encompasses 40,000 square feet across 13 buildings situated on 7.22 acres. The property boasts a diverse range of income-producing assets, including a motel with 14 rooms, 18 extended-stay units, five 5-plexes, three duplexes, three flex buildings, a stand-alone retail building, and a bar/restaurant. Currently operating at 100% occupancy, the portfolio generated a 2023 NOI of $211,376, with a pro-forma NOI projected at $311,000, representing an 8.81% cap rate. Built between 1955 and 1993, the portfolio offers significant upside potential through below-market rents and redevelopment opportunities. The property benefits from excellent frontage and visibility, enjoying an estimated 18,800 daily views. This is a rare chance to acquire a well-established, diverse portfolio with substantial growth potential in a thriving Iowa market. The portfolio includes vacant land suitable for future development, further enhancing its long-term value. The property's strong performance and diverse income streams make it an attractive investment for discerning buyers seeking significant returns.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mason City
- County
- Cerro Gordo
- State
- Iowa
- Longitude
- -93.2424
- Latitude
- 43.148
