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    OFF-MARKET
    Bars & Pubs

    118 1st St, Sumner, IA 50674-1141

    6,372 SF 0.12 ac lot Built 1897
    Individually Owned 3-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US25-1260551
    Property summary
    AI-generated overview

    This stunning 7,572 sq ft commercial property, located at 118 W 1st Street in Sumner, IA, is a true gem. Originally built in 1897 as the Bank of Sumner and listed on the National Registry of Historic Places in 2004, this building offers a unique blend of historic charm and modern functionality. The main floor features a full bar with a separate party room (adaptable as a two-car garage), two office spaces, and a food prep area with potential for expansion into a full commercial kitchen. Upstairs, a spacious area currently configured as three short-term rental suites can easily be converted into a 3,200 sq ft residence with three bedrooms and 3.5 bathrooms (requiring only minor modifications). This level also includes a full kitchen, living room, dining room, and a large 1,200 sq ft deck. The property boasts impressive features including a vintage 20-foot mahogany bar, three floor-to-ceiling stone fireplaces, and an elevator servicing the second floor. A partially finished basement adds further potential. The 0.12-acre lot provides ample space. Furnishings, equipment, and inventory are available for negotiation. This exceptional property presents a rare opportunity to own a piece of Sumner's history while enjoying significant income potential.

    Property profile
    Verified
    Property type Bars & Pubs
    Use group BAR, TAVERN
    Year built 1897
    Total area 6,372 SF
    Lot 0.12 ac (5,271 SF)
    APN 04-24-366-007
    UPID US25-1260551
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • The Property Shoppe Real Estate Agency
    • Clocktower Koselig Bar & Pub Nightclub
    • S K Rogers Funeral Home Social Service Agency
    • Midwest Trunk Co Home Decor Store Furniture & Home Goods
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    Bryan L Schaufenbuel · 3 yrs held
    Bryan L Schaufenbuel
    since 2022
    Last sale
    $80,000
    6 recorded transactions
    2022
    $465,000
    2021
    2020
    2018
    $80,000
    2018
    2017
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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