Remarks

Here is your chance to own a piece of downtown Fort Dodge. This is a nice cash flow opportunity. The building is fully leased with long-term tenants. Upstairs has a 5-year lease starting January 2024. First 2 years at $1,750/month and next 3 years at $1,950/month. There are two tenants on the main floor in the salon/spa business. One tenant pays $1,000/month ending 3/31/25. The other tenant just started a 2-year lease at $2,000/month. Also plans to lease the basement area for $600/month. Tenants are responsible for electricity and gas. The owner pays water, some electricity, taxes, and insurance. With current income not including basement property brings in $57,000/year. Approximate NOI is $44,141.96. Cap rate 11.8. New roof 2020.

Details

MLS#: 6321348
Price: $375,000

Style: Business
Year Built: 1880

County: Webster
Subdivision: FTD ORIGINAL TOWN
Lot Size: 48X140
Tax Fee: 8296