1060 Madison St
Norwalk, IA 50211

The Dunn Industrial Condos consists of two buildings for a total of 19,500 sq. ft. and 10 individual units. Each unit is 32.5 ft wide by 60 ft deep, this extra space is ideal for users and tenants alike and provides an extra 7.5 ft of width compared to other units available in the marketplace. Additionally, with half of the units consisting of drive-through access this allows users the choice of maximizing their cubic sq. ft. through a drive-in unit OR maximizing efficiency with a drive-through unit. Coupled with the extra space for end-users, this site allows outdoor storage and comes with four parking spaces per unit with 3-parking spaces either directly to the North or South of the prospective buildings. In looking at lease VS own analysis it is evident that a purchase allows the buyer to obtain a 12.56% rate-of-return opposed to a direct lease! Further enhancing the ownership potential is the ability to capture a 5-year tax abatement which directly gives the buyer $19,500 of additional tax savings ($3,900 per year)! If you're NOT looking to purchase and instead looking for an investment; this project offers a 7.9% Pro-Forma Cap rate NOT including tax-abatement and when factored back in, a Pro-Forma Cap rate of 9.30% can be obtained should an investor wish to withhold the 5-year tax abatement for the initial 5-year period! Whether it is for purchase, for investment, or for lease, this project fits the criteria of all three possibilities!