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Listed by Kiki Scarberry Our Town Realty, LLC
$ 220,000
Est. payment /mo
Pending
309 W Adams ST Creston, IA 50801
5,662 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Pending
Purchase Type For Sale
MLS Listing ID NOC6337252
Style Mixed Use
Year Built 1900
Annual Tax Amount $4,102
Tax Year 2024
Lot Size 5,662 Sqft
Acres 0.13
Lot Dimensions 47X120
Property Description
Mixed-use investment opportunity with multiple income streams and value-add potential! The main level features a 7,442 sq ft former movie theater with 162 seats, flanked by two vacant retail storefronts ready for lease-up or owner-occupancy. Existing theater projection and sound equipment are in place (untested), offering a unique redevelopment or entertainment concept opportunity. Above the theater, eight furnished hotel-style rooms each offer private baths, mini-split heating and cooling, and internet access. Currently 6 of 8 rooms are rented at $825/month, providing immediate income with upside through full occupancy. Additional highlights include free city parking conveniently located across the street and flexible space configurations ideal for a variety of commercial uses. With vacant retail spaces and underutilized theater potential, this property presents a strong opportunity for investors seeking to increase cash flow and maximize returns.
Location
State IA
County Union
Direction From Hwy 25 go east on W Adams St.
Interior
Heating Ductless, Forced Air
Exterior
Parking Features None
Utilities Available Electric Common, Heating Common, Hot Water Common
View Y/N true
Accessibility None
Building
Sewer City Sewer/Connected
Water Public
Architectural Style Mixed Use
Structure Type Stucco,Wood Siding
Schools
School District 1503 - Creston
Others
Energy Description Electric,Natural Gas
Acceptable Financing NOC6337252
Listing Terms NOC6337252
NEARBY SCHOOL & BUSINESS