2274 Us Hwy, Oskaloosa, IA 52577

This turnkey restaurant opportunity in Oskaloosa, Iowa presents a unique chance to acquire a well-established business. Located at 2274 US Hwy 63, this Class B property boasts 8,436 square feet on a generous 2.77-acre lot, providing ample parking. The building, constructed in 1972 and zoned for commercial use, features three distinct areas: a formal dining room ideal for private events, an upscale bar/lounge, and a sizable 1100 square foot patio for outdoor dining. All furniture, fixtures, and equipment (FF&E) are included in the sale price of $550,000, representing a compelling $65.20 per square foot. The property's strong financials are highlighted by a Net Operating Income (NOI) of $486,950 and an impressive 88.54% cap rate. Additional features include a walk-in cooler and freezer, a pool table, and games, making it ready for immediate operation. This landmark establishment has a history of hosting various events, from receptions and reunions to parties, and is poised for continued success under new ownership. The property is currently vacant.