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Property profile & analytics
FOR SALE
Retail space

403 Story St Boone, IA 50036

2,010 SF 0.41 ac lot Built 1997
Entity Owned 21-yr Hold Absentee Owner Free & Clear
Property ID
US25-1330169
Property summary
AI-generated overview

This exceptional 2,010 square foot commercial building, located at 403 Story Street in Boone, Iowa, presents a compelling investment opportunity. Situated on a 0.41-acre lot, the property boasts a recently completed appraisal valuing it at $625,000, exceeding the asking price of $600,000. The property is currently under lease, providing a steady stream of income, with the lease extending until February 1st, 2027. This presents a strong return on investment for a discerning buyer. The building's versatile space is ideal for a variety of commercial uses, making it an attractive prospect for both established businesses and new ventures. Its prime location in Boone, Iowa offers excellent visibility and accessibility, further enhancing its investment potential. The property's strong financial performance, coupled with its desirable location and current lease, makes it a rare find in the Boone commercial real estate market. Serious inquiries are encouraged to explore this lucrative opportunity. The property is ready for immediate ownership and offers a secure investment with a guaranteed income stream for the foreseeable future. Don't miss this chance to acquire a high-value commercial property in a thriving Iowa community.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1997
Construction FRAME
Total area 2,010 SF
Lot 0.41 ac (18,000 SF)
Zoning code INC
APN 88426281382012
UPID US25-1330169
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
  • Medicap Pharmacy Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
Susan M Lassila LLC · 21 yrs held
Susan M Lassila LLC
since 2005
1 recorded transaction
2005
$570,000
Zoning & alternative use
INC · Boone, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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