901 Main Street
901 Main St. ,
Grinnell, IA 50112
 
$295,000
Offering Price
11.71
GRM
$98,333
Price Per Unit
3
Number of Units
6.32%
Cap Rate
2,976
Building SF
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$295,000
Offering Price
11.71
GRM
$98,333
Price Per Unit
3
Number of Units
6.32%
Cap Rate
2,976
Building SF
Description
Uncover the potential of this captivating historic downtown corner building in the central business district. The Corrough Building boasts a turn-of-the-century commercial design, complete with a corner "Oriel" denticulated cornice stone lintels, tall windows, and a striking brick elevation with stone detailing on the primary facade. Currently housing a successful restaurant on the main floor and two residential units on the second floor, including a modern two-bedroom apartment and an unfinished one/two-bedroom space, this property offers a strong rental history with long-term quality tenants and dependable occupancy. Recent investment of 162,000.00 in facade grants, for the restoration of the original southeast corner entrance and new storefront windows, enhance the building's charm, functionality and value. Renovated the second apartment and this property is poised to deliver a robust long term cash flow.
FOR MORE DETAILS CONTACT
Matthew Karjalahti
Broker, Principal
(641) 236-6683
matt@remaxcentralia.com
B60759000
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