1427 Milwaukee Ave Storm Lake, IA 50588-2905
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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
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.