704 /706 Central, Iowa

Description

Here is your chance to own a piece of downtown Fort Dodge. This building is in the path of improvement with Fort Dodges new master plan to revitalize the downtown area. This is a nice cash flow opportunity. Total Monthly Income: $5,600 Annual Gross Income: $67,200 Property Summary Mixed-use commercial building located on a main corridor in Downtown Fort Dodge Four income-producing units: • Main Floor Spa: $1,200/month o Salon Central: $2,000/month ? Nail Salon: $450/month o 1st Floor Office (Upper Des Moines): $1,950/month Potential Upside: Basement currently vacant, being marketed for $600/month lease Utilities: • First Floor (Upper Des Moines): Paid by tenant • Ground Floor tenants: Paid by landlord Avg Water: $100/month Avg Electric & Gas: $350/month Financial Snapshot Annual Gross Income: $67,200 Annual Operating Expenses: • Taxes: $8,296 • Insurance: $2,688 • Maintenance: $2,000 • Utilities (Water, Gas, Electric for Ground Floor): $5,400/year • Total Expenses: $18,384 NOI: $48,816 Key Highlights Fully stabilized tenant base (long-term leases in place) Turnkey investment with minimal landlord responsibility. Room for NOI growth with new basement lease Excellent downtown visibility and walkability New roof (2020) Will highly benefited by Fort Dodge Central River Master Plan 2025-2030

Directions: Across the street from Webster County Courthouse