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315 Chestnut St

5,600 SF 100% Leased Retail Building Atlantic, IA 50022 $155,000 ($28/SF)

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Investment Highlights

Updates include a newer furnace, A/C, water heater, some windows.

Executive Summary

Offering a 2-story commercial building in a classic downtown area. The main floor has 3500 usable square feet with kitchen in back, office, and ¾ bath and 1/2 bath for public. The upstairs has 2 apartments, laundry facilities and extra rooms in a common area can be finished to suite your needs. The basement is open with an abundance of storage space. A unique feature is a freight elevator that has access to all three levels. Updates include a newer furnace, A/C, water heater, some windows, electrical box upstairs, backdoor with key code deadbolt, 2011 roof with top hatch for easier access. The main floor is leased for three years at $1200/month and the upstairs apartments are currently occupied by the Seller and Seller's family so there is the potential for more income from those apartments when ownership changes hands.