409 Driftwood St Correctionville, IA 51016-7733
This exceptional commercial property, located at 409 Driftwood St in Correctionville, Iowa, presents a unique investment opportunity. The property consists of two buildings totaling 3,172 square feet, situated on a 0.14-acre lot. Built in 1910, this single-story structure offers versatile space ideal for a variety of commercial uses. The interior layout includes three private offices, two open work areas, a dedicated conference room, and substantial back storage. The buildings can be utilized as a single cohesive unit or easily subdivided to create two separate storefronts, catering to diverse business needs. Ample parking is conveniently located at the rear of the property. This move-in ready property is offered for sale at $80,000, or available for lease at $1,500 per month on a triple net (NNN) basis, with tenant responsibility for taxes, insurance, and maintenance. The property's central location in downtown Correctionville, Iowa, zip code 51016, ensures high visibility and accessibility. This is a rare opportunity to acquire a well-maintained, adaptable commercial space in a thriving community. The property is zoned for commercial use.
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Dixon Construction Co Construction Company
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
C-24 · Correctionville, IACosts & 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.