5,400 Sqft Lot
5,400 Sqft Lot
Key Details
Property Type Commercial
Sub Type Business
Listing Status Active
Purchase Type For Sale
MLS Listing ID 2649030
Year Built 1880
Annual Tax Amount $9,400
Lot Size 5,400 Sqft
Acres 0.12396694
Property Sub-Type Business
Source hmls
Property Description
OWENER FINANCING AVAILABLE!!
Capitalize on this high-yield mixed-use building located on the Square the downtown Iola business corridor. This 10,000+ square foot asset is designed for immediate income generation and significant upside potential in a prime location. Centrally situated, this property is just 1.5 hours south of Kansas City, 2 hours north of Tulsa, and 2 hours from Wichita.
Stable Cash Flow: Current tenants will transfer to a new owner, ensuring seamless, uninterrupted revenue from day one.
Diverse Income Streams: Currently features two active, ground-level commercial storefronts and two second-floor studio apartments.
Significant Expansion Potential: Beyond current units, the second floor offers prime square footage ready for the development of additional residential units, allowing you to quickly maximize your rental income.
Untapped Utility: The massive basement offers unique, private potential for exclusive storage, a private wine collection, or a private-use hobby space. (Please note: The basement is for private party use only and is not suitable for public access).
Superior Accessibility: A heavy-duty freight elevator services all three levels (basement, main, and second floor), drastically simplifying tenant logistics and future renovation projects.
This is a true "value-add" scenario. The infrastructure is solid, the location is strategic, and the foundation for increased Net Operating Income (NOI) is already in place. Owner financing is available for qualified buyers. Investors looking for a reliable, multi-faceted income stream in an appreciating market need look no further. Contact us for rent rolls and financials.
Location
State KS
County Allen
Zoning Comm
Interior
Interior Features Elevator, Storage, In-Law Floorplan, Private Restroom, Public Restroom
Fireplace N
Exterior
Exterior Feature Building Sign, Delivery Door(s), Display Window
Utilities Available Electricity Available, Natural Gas Available, Sewer Available, Water Available
Building
Story 2
Others
Acceptable Financing Cash, Conventional, Option To Buy, Owner May Carry
Listing Terms Cash, Conventional, Option To Buy, Owner May Carry
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