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Property profile & analytics
FOR SALE
Bars & Pubs

403 E Main St Belmond, IA 50421

12,168 SF 0.3 ac lot Built 1979
Individually Owned Absentee Owner Free & Clear
Property ID
US25-1462379
Property summary
AI-generated overview

This exceptional 12,168 square foot commercial property, located at 403 E Main Street in Belmond, Iowa, presents a unique investment opportunity. Situated on a 0.3-acre lot, this building has been completely renovated and transformed into a premier event and music venue. Previously a thriving meat and grocery market, the property underwent a significant transformation during the pandemic. The current owner meticulously updated the space, creating a state-of-the-art facility ideal for a wide range of events. Improvements include a brand-new sound system, updated lighting, and completely remodeled bathrooms. High-quality finishes throughout contribute to the overall upscale feel. The venue is currently booked for various family events throughout the summer of 2024, demonstrating strong existing demand and potential for continued success. This turnkey operation offers immediate income potential and a rare opportunity to own a fully equipped, high-quality event center in a desirable location. The asking price is $875,000. This property is ready for a new owner to continue its success story. The building's history as a well-established local business adds to its appeal and provides a strong foundation for future growth. The ample square footage allows for diverse event configurations, catering to a broad range of clients and events.

Property profile
Verified
Property type Bars & Pubs
Use group BAR, TAVERN
Year built 1979
Total area 12,168 SF
Lot 0.3 ac (13,200 SF)
APN 04-30-111-019
UPID US25-1462379
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
Current use
Occupant on record · Public records
  • El Padrino 2 NightClub DJ & Entertainment Nightclub
Value estimations
Realmo proprietary · 4 methods
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Owner & transaction history
JIMENEZ FRANCISCO ABEL HERNANDEZ
JIMENEZ FRANCISCO ABEL HERNANDEZ
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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