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Property profile & analytics
OFF-MARKET Estimated value $245,000
Medical Office Space

1427 Milwaukee Ave Storm Lake, IA 50588-2905

1,248 SF 4.83 ac lot Built 1965
Individually Owned 19-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US25-1267328
Property summary
AI-generated overview

This exceptional single-story office building, located at 1427-1429 W Milwaukee Avenue in Storm Lake, Iowa, presents a unique investment opportunity. The property boasts 1,248 square feet of vacant, net rentable space, ideal for a variety of professional uses. Previously utilized as a medical clinic, the building is well-maintained and ready for immediate occupancy. Situated on a generous 4.83-acre lot, it offers ample space for expansion or future development. The strategic location on the main thoroughfare (Highway 7/W Milwaukee Avenue) ensures high visibility and accessibility. The property benefits from its proximity to numerous other businesses and the presence of Buena Vista University in Storm Lake. Built in 1965, this building offers a solid foundation for a new owner to establish their business or generate rental income. The asking price is $400,000, translating to $320.51 per square foot. This represents a compelling value in the Storm Lake commercial real estate market. The property's size and location make it an attractive option for businesses seeking a prominent presence in a thriving community. This is a rare opportunity to acquire a substantial office building in a desirable location.

Property profile
Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 1965
Construction FRAME
Total area 1,248 SF
Lot 4.83 ac (210,394 SF)
APN 10-33-453-008
UPID US25-1267328
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
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$245k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$245k
Owner & transaction history
Juan Manuel Lopez · 19 yrs held
Juan Manuel Lopez
since 2006
3 recorded transactions
2017
Price N/A
2017
Price N/A
2006
$150,000
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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