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Property profile & analytics
OFF-MARKET Estimated value $550,000
Turn key restaurants

200 Main St Lansing, IA 52151-7772

9,306 SF 0.12 ac lot Built 1889
Entity Owned Free & Clear
Property ID
US25-1112732
Property summary
AI-generated overview

Own a piece of Lansing, Iowa history with this exceptional multi-building commercial property at 200 Main St, 52151. This turnkey business opportunity encompasses 12,845 square feet across three historic buildings, built in 1888, situated on a 0.18-acre lot. The main building houses a thriving bar and restaurant, complete with a spacious banquet area ideal for generating additional revenue through event rentals and private parties. Enjoy stunning river views from this bright and airy establishment. Above the commercial space, four fully rented apartments and a bonus Airbnb unit provide a consistent rental income stream. These charming apartments feature updated interiors and hardwood floors. The property is zoned commercial and offers significant flexibility for future business ventures. While currently operating as a successful bar and restaurant, the space is adaptable to various other commercial uses. The sale includes all three buildings, though options for separate sales may be considered. This is a rare opportunity to acquire a substantial and established business with significant upside potential in a desirable location.

Property profile
Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1889
Construction WOOD
Total area 9,306 SF
Lot 0.12 ac (5,160 SF)
APN 829426021
UPID US25-1112732
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
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$550k
Owner & transaction history
CONWAY, MICHAEL A LLC
CONWAY, MICHAEL A LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage $910,000 +10.9%
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