1205 Broadway St Red Oak, IA 51566
- Warehouses
- 1,216 SF
- 6.57 lot acres
Current Use by Public Records
- Family Dollar / Dollar Store / Clothing Store
Property Details for 1205 Broadway St
- Year built
- 1983
- Construction
- FRAME
- Lot size
- 6.57 lot acres
- Property size
- 1,216 SF
- Property type
- Warehouses
- APN
- 600629227008000
- APU
- 600629227008000
Description
This exceptional 3.87-acre commercial land parcel presents a remarkable investment opportunity in Red Oak, Iowa. Strategically located at 1205 N Broadway St, in Montgomery County, zip code 51566, this property boasts high visibility and accessibility. The site faces North Broadway Street and is bordered by West Oak and West Bridge Streets, ensuring significant exposure to a substantial daily traffic flow. The property's convenient location is further enhanced by its adjacency to the recently constructed Family Dollar/Dollar Tree building, sharing a common driveway for direct access to North Broadway Street. This shared access point provides seamless ingress and egress, optimizing convenience for potential businesses and customers. The land is divisible, offering flexibility for development. Two potential lot divisions are possible: Lot 1, encompassing 2.16 acres, and Lot 2, comprising 1.71 acres. This allows for tailored development plans to suit various business needs and scales. Red Oak, with a population of approximately 5,500 residents, serves as the county seat of Montgomery County, providing a stable and established market for commercial ventures. The property's ideal location makes it particularly suitable for quick-service restaurants (QSRs), convenience stores, or other service-oriented businesses seeking high visibility and convenient access for their customers. This prime commercial land offers a unique chance to establish a thriving business in a growing community.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $320,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $410,000
- 6.5%
- $455,000
- 7%
- $415,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $500,000
- Geo Method
- $400,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $470,000
- Retail
- $430,000
- Mixed-Use
- $520,000
- Hospitality
- $535,000
- Educational
- $385,000
- Residential Income
- $460,000
- Energy
- $400,000
- Income-Based Land
- $405,000
- Food Service
- $390,000
Location Insight
- Map
- Local Demand
- City
- Red Oak
- County
- Montgomery
- State
- Iowa
- Longitude
- -95.2353
- Latitude
- 41.0156
