123 E 3Rd St Ottumwa, IA 52501
For Sale
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This exceptional commercial property presents a unique investment opportunity in Ottumwa, Iowa. Located at 123 3rd St E, this former bank building boasts a substantial 26,207 square feet of space, situated on a 0.6-acre lot. The building, constructed in 1956, has undergone renovations to achieve a Class A standard, ensuring a high-quality interior. The property is well-maintained and features a convenient surface parking lot, a significant advantage for potential tenants. The building is zoned for commercial use, offering flexibility for a variety of businesses. With a list price of $1,450,000, the price per square foot comes to $55.33. This prime location in Wapello County, Iowa, zip code 52501, offers excellent visibility and accessibility. The property's size and condition make it ideal for a wide range of commercial ventures, presenting a strong return on investment potential. The building's history as a bank provides a solid foundation for future success, and its updated interior ensures a modern and functional space for any business. This is a rare opportunity to acquire a substantial, well-maintained commercial property in a desirable location.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.