217 8th Ave
Wellman, IA 52356

• Unit Size: 1,845 SF
• Condo Use: Office
• Price: $279,900 USD
• Sale Type: Owner User
• Price/SF: $151.71 USD

Description

FOR SALE OR LEASE. This leased investment is a commercial condo that could be leased to one or two tenants or used by an owner occupant. The latest rent on the front facing 700 foot suite (Ste 1) is $850 per month (gross) including taxes and building insurance, and the latest rent on the parking lot facing 1,075 square foot suite (Ste 2) is $1,300 per month (gross) including taxes and building insurance. Suite 1 CAM is an additional $38/month and Suite 2 CAM is an additional $72.40/month (or combined CAM $110.53/month). Both spaces in this commercial condo are in very good condition and show well. Suite 1 features two large office areas, a kitchenette, and a private bathroom. Suite 2 has just been freshly painted and currently features three individual rooms/offices with sinks/cabinets and a fourth room/office that is plumbed for water. Suite 2 has a nice reception area, kitchenette space, private bathroom and access to the shared common area bathrooms. There is street parking in the front of the building for the financial services tenant (Ste 1) and a parking lot in the rear of the building for additional tenant (Ste 2). One block away from 9th Street, with a traffic count of 980 cars per day.

Sale Notes

Annual taxes are $6,226, Annual insurance is $1,689 and the Annual CAM is $1,326. This commercial condo is part of an association, so the CAM paid by the owner goes to the association and the association provides all external maintenance. Each tenant is responsible for their own rental insurance. High speed fiber optic internet available! Seller will consider selling on contract. Suite 1 tenant will consider continuing to rent if new owner does not need the entire space. Suite 2 currently has sinks in 3 rooms/offices.