500 E Coolbaugh St
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500 E Coolbaugh St
14,457 SF 100% Leased Retail Building Red Oak, IA 51566 $149,900 ($10/SF)
Executive Summary
500 E Coolbaugh St in Red Oak was built in 1895, approximately 34 years after the Civil war, as the area Armory in the Romanesque Castle style. It is located across the street from the post office and less than a block from a paved public parking lot. The "Castle" is a very unique part of Red Oak and Montgomery County's history. It was a gathering place and entertainment venue in it's early life. In it's most recent life it was a very successful furniture business. There are 3finished floors at 5400 sq ft each, for a total of 16200 sq ft plus an unfinished basement. There is a utility elevator for all floors, and 2 staircases to each of the upper floors. Second floor (5400 sq ft) with elevator access, could be used for storage, a shop space, inventory, etc. The 3rd floor (5400 sq ft) was originally built as a penthouse with commanders quarters. The rooms are still in the original layout and have original doors. The possibilities for this building are endless. Can you imagine it restored for an event venue? Or as a showroom for your business? Or office spaces? Or housing? The building has a front entrance and a great showroom window with curtain coverage in good shape. In the back of the building there is a double door to the street. You need to see this building to believe how wonderful it could be. Contact your favorite agent to see the "Castle".
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Build to Suit
Property Type
Retail
Building Size
14,457 SF
Building Class
C
Year Built
1895
Price
$149,900
Price Per SF
$10
Percent Leased
100%
Building Height
3 Stories
Building FAR
2.37
Land Acres
0.14 AC
PROPERTY TAXES
Parcel Number | 600-62-83-270010-00 | Improvements Assessment | $80,520 |
Land Assessment | $6,750 | Total Assessment | $87,270 |
PROPERTY TAXES
Parcel Number
600-62-83-270010-00
Land Assessment
$6,750
Improvements Assessment
$80,520
Total Assessment
$87,270
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500 E Coolbaugh St
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