111 W State St | Mason City, IA 50401
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111 W State St
Mason City, IA 50401
Mason City Bldg · Office Property For Sale
Investment Highlights
- Located in Business Friendly Northern Iowa Corridor
- Six Story 113,022 SF Class A Office Redundant Automated Office Asset
- Appx $12M in Capital Improvements in the Last 5 Yrs
- Strong Educated Reliable Work Force
- Built in 1990 by the Existing Tenant to Service Pension Clients
Executive Summary
Single-tenant NNN office lease with Principal Life Insurance Company with just under 1 year remaining on lease. The Mason City market labor force serves as Principal Financial Group's pension account services. This investment opportunity includes annual rent increases of 1%. The Landlord is responsible for roof, foundation, underground, structural and exterior walls.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Redevelopment Project
Property Type
Office
Building Size
113,022 SF
Building Class
B
Year Built
1991
Price
$14,000,000
Price Per SF
$124
Tenancy
Single
Building Height
6 Stories
Typical Floor Size
18,837 SF
Building FAR
1.13
Lot Size
2.30 AC
Opportunity Zone
Yes
Zoning
Z-5 - Central Business District
PROPERTY TAXES
| Parcel Number | 07-09-277-00-900 | Improvements Assessment | $6,199,400 |
| Land Assessment | $300,600 | Total Assessment | $6,500,000 |
PROPERTY TAXES
Parcel Number
07-09-277-00-900
Land Assessment
$300,600
Improvements Assessment
$6,199,400
Total Assessment
$6,500,000
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