121 5th St Storm Lake, IA 50588-2339

Property Details for 121 5th St

Year built

1972

Construction

STEEL FRAME

Lot size

0.40 lot acres

Property size

13,644 SF

Property type

Banks

APN

14-03-208-012

APU

1403208012

Description

This exceptional commercial property, located at 121 E 5th St in Storm Lake, Iowa, offers 16,813 square feet of versatile office space, spread across two stories and a finished basement. Built in 1972, this Class B building boasts 13,644 square feet on the main and second floors, featuring numerous offices, restrooms, large work areas, and a conference room. The finished basement adds another 3,196 square feet, including a kitchen, office, restroom, and storage. The property includes a concrete parking lot. A deed restriction prohibits banking or insurance use. However, the property is zoned commercial and presents potential for conversion to apartments or condos, potentially benefiting from Iowa state grants and tax credit programs. The asking price is $399,500 ($23.76/sq ft). The 2023 assessed value is $545,340, significantly lower than the 2022 assessed value of $887,480. The lot size is 0.4 acres, and the APN is 1403208012. This is a unique opportunity to acquire a substantial, well-located commercial property in a thriving community.

Location Insight

City

Storm Lake

County

Buena Vista

State

Iowa

Longitude

-95.2

Latitude

42.6448

CBSA code

44740

CBSA name

STORM LAKE, IA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments