116 5Th StTipton, IA 52772

Property Details for 116 5Th St

Year built

1888

Lot size

0.07 AC

Property size (Sq ft)

3,750 SF

Property type

Retail properties

Property subtype

Retail space

APN

48011061080150

APU

48011061080150

Description

This exceptional investment opportunity in Tipton, Iowa, presents a unique blend of commercial and residential space. Located at 116 W 5TH Street, this property, built in 1950, offers a prime location in the heart of the city. The building includes a ground-floor commercial space ideal for a restaurant or similar business, perfectly complemented by a fully renovated one-bedroom apartment on the upper level. This apartment, boasting upgraded cabinets and stunning quartz countertops, provides additional income potential through leasing or use by the business owner. A small rear deck adds to the apartment's appeal. Both the upstairs and downstairs have undergone a complete renovation, including new electrical, plumbing, sewer, and water lines. Modern conveniences are readily available, with several fiber optic internet/cable options. The alley-side of the building features a striking full-size mural by a local artist, showcasing Tipton's history and adding to the property's character. The alley itself was recently paved by the city in April 2024. The property also includes a security system with cameras, audio, panic mode, and video surveillance, enhancing safety and security. The asking price for this turnkey operation is $175,000. This property is zoned for commercial and restaurant use and presents a strong return on investment. Don't miss this chance to own a piece of Tipton's vibrant downtown.

• CAP approach

  CAP return

  Valuation

  6%

  $995,347

  6.5%

  $918,782

  7%

  $853,155

• Comparable approach

  Method

  Valuation

  Relative Method

  $959,394

  Geo Method

  $736,722

• Alternative Use

  Use

  Valuation

  Residential

  $775,027

  Hospitality

  $709,921

  Educational

  $590,646

  Medical

  $610,959

  Retail

  $918,782

Location Insight

City

Tipton

County

Cedar

State

Iowa

Latitude

41.7703

Longitude

-91.1277

Property Tax & Assessments

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