1220 Main St Keokuk, IA 52632

Property Details for 1220 Main St

Year built

1957

Lot size

1.95 lot acres

Property size

26,119 SF

Property type

Retail space

APN

04-45-21-25-183-0090

APU

44521251830090

Description

This exceptional 26,200 square foot retail strip center presents a compelling investment opportunity in Keokuk, Iowa. Situated on a 1.95-acre lot at 1220 Main Street, this property boasts excellent visibility and accessibility, located on a major commercial thoroughfare (Highways 218 and 61) with 12,100 vehicles passing daily. Currently housing two long-term tenants, Goodwill Industries and Rent-A-Center, generating a net operating income (NOI) of $88,152, the property offers immediate cash flow. One 7,000 square foot unit is available for lease, presenting a significant opportunity to increase NOI to an estimated $137,000 through market-rate leasing at $8 per square foot. The property features recent renovations (2015), including a new roof, updated mechanical systems, and a recently resurfaced parking lot with 144 spaces. The functional design includes 13'8" ceiling heights, three bay doors, and a flexible layout suitable for a variety of retail or service-based businesses. Its prime location across from Walgreens and near Highway 136 ensures strong regional draw from Iowa, Illinois, and Missouri, solidifying its position as a key retail destination in Lee County's primary economic hub. This property offers a unique blend of stability, growth potential, and strategic location, making it an ideal investment. The asking price is $850,000.

Location Insight

City

Keokuk

County

Lee

State

Iowa

Longitude

-91.39

Latitude

40.4014

CBSA code

22800

CBSA name

FORT MADISON-KEOKUK, IA-IL-MO MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments