42 Spruce St Tipton, IA 52772
For Sale
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This 17,000 square foot building, constructed in 2013, is situated on a large lot at 42 Spruce Street in Tipton, Iowa. Previously utilized as a youth sports complex, it offers a unique opportunity for diverse commercial applications. The structure boasts 24' sidewalls and a 26' center ceiling height, providing ample vertical space. Features include four overhead doors (two 12'x16', one 24'x16'), five man doors, a sprinkler/fire/alarm system, three-phase electrical service, four tube heaters, and HVAC in the entry and meeting rooms. Additional amenities consist of two large ceiling fans, seven high-volume vents capable of complete air recirculation in six minutes, a mezzanine for spectators, four volleyball courts, four basketball courts, two team rooms, two restrooms, and four drinking fountains. The building also includes a 32' x 50' entry area with a director's office and concessions. Its strategic location offers easy access to major transportation routes, being just eight miles north of Iowa 80, ten miles south of Iowa 30, and within reasonable driving distance of Cedar Rapids (41 miles) and Iowa City (28 miles). Ideal for warehouse, repair facility, agricultural equipment storage, trucking company, automotive business, daycare, or numerous other uses. The asking price for this exceptional property is $950,000.
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.
