6
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$350,000
Est. payment /mo
2,356 SqFt
Price Dropped by $75K
210 N Main ST Clarion, IA 50525
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UPDATED:
12/12/2024 02:51 PM
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 2,356 sqft
Price per Sqft $148
MLS Listing ID 65899
Originating Board Central Iowa Board of REALTORS®
Year Built 1900
Annual Tax Amount $2,280
Property Description
This commercial property is home to Thrifty White Pharmacy a very strong, regional chain w/ 91 stores. Clarion is county seat for Wright county, pop. 12,644. Thrifty has Leased since 2018, current lease through March,2028 with a recent extension until March, 2031. Tenant pays property taxes and repairs up to $400. Tenants have put nearly $100,000 recent upgrades including new roof in 2018, repaired the back wall, electrical updated in 2021, new a/c unit in 2023, new back doors and garage door in 2024.
Income:
Commercial 3400 sq/ft + 450sq/ft cold storage = $2,475/ mo
Apartments: 2 units each unit approx. 1,200 sq/ft = $1,225/mo.
Gross Rents: $44,400/yr.
Expense:
Insurance $2,400/yr
Mgt fee $2,200/yr
Maintenance $2,000/yr
Total $6,600/yr
Net $37,800/yr
Based on $350,000 price/$37,800 NOI shows around 11percent ROI
Income:
Commercial 3400 sq/ft + 450sq/ft cold storage = $2,475/ mo
Apartments: 2 units each unit approx. 1,200 sq/ft = $1,225/mo.
Gross Rents: $44,400/yr.
Expense:
Insurance $2,400/yr
Mgt fee $2,200/yr
Maintenance $2,000/yr
Total $6,600/yr
Net $37,800/yr
Based on $350,000 price/$37,800 NOI shows around 11percent ROI
Location
State IA
County Wright
Zoning Commercial
Body of Water Public
Interior
Cooling Window Unit(s), Central Air
Flooring Parquet, Carpet
Exterior
Roof Type Rubber
Street Surface Hard Surface
Building
Story 3
Foundation Brick/Mortar
Water Public
Structure Type Wood,Masonry/Concrete,Combination
Listed by RE/MAX REAL ESTATE CENTER
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