3 N Main St Alta, IA 51002
For Sale
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This unique commercial property, located at 3 N. Main Street in Alta, Iowa (zip code 51002), presents a remarkable investment opportunity. The building, formerly a railroad depot, boasts a substantial 2,905 square feet of space, ideally suited for a restaurant or similar special purpose business. The property sits on a 7,588 square foot lot. The interior features a large front dining room, a second dining area housed within the original railroad dining car offering views of the CN Railway line, and a bar strategically positioned between the two dining spaces. Architectural details include a striking tin ceiling and access to end platforms. The property includes a significant amount of existing restaurant equipment (a detailed list is available upon request). This turn-key operation is ready for immediate occupancy. The seller is open to considering contract sales. This is a rare opportunity to acquire a well-established commercial property in a desirable location with significant historical character. The property is zoned for commercial use.
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.