200 Main StLansing, IA 52151

Property Details for 200 Main St

Year built

1889

Construction

WOOD

Lot size

0.12 AC

Property size (Sq ft)

9,306 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

829426021

APU

829426021

Description

Own a piece of Lansing, Iowa history with this exceptional multi-building commercial property at 200 Main St, 52151. This turnkey business opportunity encompasses 12,845 square feet across three historic buildings, built in 1888, situated on a 0.18-acre lot. The main building houses a thriving bar and restaurant, complete with a spacious banquet area ideal for generating additional revenue through event rentals and private parties. Enjoy stunning river views from this bright and airy establishment. Above the commercial space, four fully rented apartments and a bonus Airbnb unit provide a consistent rental income stream. These charming apartments feature updated interiors and hardwood floors. The property is zoned commercial and offers significant flexibility for future business ventures. While currently operating as a successful bar and restaurant, the space is adaptable to various other commercial uses. The sale includes all three buildings, though options for separate sales may be considered. This is a rare opportunity to acquire a substantial and established business with significant upside potential in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,251,849

  6.5%

  $2,078,630

  7%

  $1,930,156

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,196,945

  Geo Method

  $1,196,945

• Alternative Use

  Use

  Valuation

  Residential

  $1,753,402

  Hospitality

  $1,606,107

  Educational

  $1,336,262

  Medical

  $1,382,218

  Retail

  $2,078,630

Location Insight

City

Lansing

County

Allamakee

State

Iowa

Latitude

43.3623

Longitude

-91.2159

Property Tax & Assessments

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