Current Use by Public Records
- Industrial properties
Property Details for 1060 Madison St
- Year built
- 2024
- Lot size
- 3.20 lot acres
- Property type
- Industrial properties
- Property subtype
- Flex space
Description
This exceptional Class A industrial condominium park, located at 1060 Madison Street, STE: 101-110, Norwalk, IA 50211, offers 10 individual units totaling 19,500 square feet within a single building. Each unit boasts 1,950 square feet of net rentable space, measuring 32.5 feet wide by 60 feet deep, providing 7.5 feet more width than comparable units on the market. The flexible design allows for either drive-in or drive-through access, maximizing space efficiency and cubic footage. Four parking spaces are included with each unit, with three additional spaces located either north or south of the building. The property sits on 3.2 acres, offering ample outdoor storage. Units feature 18-foot clearance and 16-foot overhead doors. A significant advantage is the availability of a 5-year tax abatement, resulting in $19,500 in savings ($3,900 annually). This property presents a compelling investment opportunity, with a pro-forma cap rate of 7.9% (9.30% including tax abatement). The asking price is $279,900, translating to $143.54 per square foot. The property was built in 2024. This property is ideal for owner-occupiers or investors seeking a high-return asset in a prime location.
Value Estimations
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Norwalk
- County
- Warren
- State
- Iowa
- Longitude
- -93.6837
- Latitude
- 41.4572
