939 Hawkeye SW Ave Le Mars, IA 51031-1862
This exceptional 2.95-acre commercial property in Le Mars, Iowa, boasts 275 feet of prime highway frontage on Hawkeye Ave SW. The site includes a 1,344 sq ft concrete block building currently rented month-to-month, featuring two loading bays with 10-foot overhead doors, a 220V HVAC system, office space, and restroom facilities. Additionally, there are two metal warehouses on-site, one measuring 5,100 sq ft and the other 4,000 sq ft, each with an overhead door. These warehouses are potentially relocatable, opening up various development opportunities. The property's location in Le Mars, known as the "Ice Cream Capital of the World," offers significant advantages, including proximity to Wells Enterprises (Wells Blue Bunny Ice Cream), a thriving community with ample amenities such as an airport, golf course, and various businesses. The property also benefits from excellent access via a newer road providing frontage on both the highway and a less-traveled route. With 12 parking spaces and Commercial zoning, this property presents a unique investment opportunity with high potential for diverse commercial uses. The asking price is $1,250,000.
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
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Property description
Physical attributes from public recordsZoning & alternative use
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.