323 E Reed St, Red Oak, IA 51566
For Sale
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This exceptional investment opportunity presents a historic two-story bank building located at 323 E Reed St in Red Oak, Iowa. Boasting 7,655 square feet, this single-unit property is situated on a highly visible corner lot directly across from the Montgomery County Courthouse, offering unparalleled exposure and accessibility. Built in 1880 and renovated in 1960, the building presents a blend of historical charm and updated functionality. The asking price is $350,000, translating to a price per square foot of $45.72. The property includes a dedicated on-site parking lot, a significant advantage in a high-traffic area. This prime location, combined with the building's substantial size and historical significance, makes it an ideal investment for a variety of uses. The property's convenient location and ample parking make it an attractive option for businesses seeking high visibility and accessibility. The building's history and unique character offer a compelling opportunity for adaptive reuse or continued operation as a financial institution. Serious inquiries are encouraged to explore the potential of this remarkable property. The zip code is 51566.
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U.S. Bank Branch Bank Loan Service
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US Bank Mortgage Loan Service Bank
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U.S. Bank ATM Atm
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
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.