$1,475,000
500 WILLOW Avenue
COUNCIL BLUFFS, IA 51503
MLS# 22-848
Status: Closed
23860 sqft
Front
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Property Description
Great investment opportunity to own a downtown landmark property that CASHFLOWS! This 1924 art deco style building was originally built as a hotel, but has since been converted to a mix of small retail and office spaces with a diverse array of tenant uses. The downtown location is immediately across the street from Bayliss park, and in walking distance to both City Hall and the County Courthouse. The building is 100% occupied and has a wait list of tenants looking for additional space. The roof and boiler were both replaced in 2021, all of the suites have seen recent cosmetic updates and the building is in excellent condition.

Details
Maps
Contract Information
Sale: For Sale
Bank Owned?: No
Agent Equity: No
Current Price: $1,475,000
Status: Closed
Listing Date: 2022-05-16
Sold Price: $1,475,000
General Property Description
Location: Downtown
Leased: Multiple Tenants
Building Size: 20,001 - 50,000
Exchange: No
Bldg Expandable: No
Addl Land Availble: No
SF Manufacturing: 0
SF Warehouse: 0
SF Office: 23860
SF Mezzanine: 0
SF Freezer: 0
SF Refrigerator: 0
SF Other: 0
Lrgst Cnt SF Lease: 1100
Lot Dimensions: 70x110
Type of Property: Real Estate Only
Year Built: 1924
Tot Fnshd SF: 23860
Location, Tax & Legal
Located City/County: City
Legal: BAYLISS 1ST ADD LT 8 BLK 9 & LT 6 AUD SUB LTS 6 & 7 BLK 9 BAYLISS 1ST ADD
Parcel No.: 7544 36 203 011
Current REIDS Yr Pd: N/A
Insurance: 5787
Area: Area 7
House #: 500
Street Name: WILLOW
Street Suffix: Avenue
State/Province: IA
County: POTTAWATTAMIE
Zip Code: 51503
Office/Member Info
Net Taxes: 22936
Tax Year: 2020
Status Change Info
Type Of Financing: Lease/Purchase
Status Change Date: 2022-07-19
Under Contract Date: 2022-05-16
Sold Date: 2022-07-15
Sold Price: $1,475,000
Possession
At Closing: 1
Subject to Tenant: 1
Construction
Brick: 1
Conc Block: 1
Roof
Flat: 1
Terms
Sell In Entirety: 1
Potential Use
Diversified: 1
Parking
Parking Area: 1
Street Parking: 1
1 - 5: 1
Number of Stories
5 or More: 1
Floors
Carpet: 1
Conc Slab: 1
Heavy Duty: 1
Tile: 1
Other - See Remarks: 1
Walls
Plaster: 1
Utilities
Electricity: 1
Gas: 1
Sewer: 1
Water: 1
Heating/Cooling
Central Air: 1
Forced Air: 1
Hot Water: 1
Natural Gas: 1
Steam: 1
Other - See Remarks: 1
Door Height
No - OHD: 1
Door Width
No - OHD: 1
Docks
None: 1
Mortgage Info
Gross Taxes: 26425
Restrooms
Three or More: 1
Flood Zone
Status Unknown: 1
To Show
24 Hr Notice: 1
Call Agent: 1
Status Info
Sold Status: Leased
REIDS Incl Sale Prc: No
Sale Price Incl Lot: Yes
Property Features
Terms: Sell In Entirety
Potential Use: Diversified
Parking: Parking Area; Street Parking; 1 - 5
Construction: Brick; Conc Block
Number of Stories: 5 or More
Floors: Carpet; Conc Slab; Heavy Duty; Tile; Other - See Remarks
Walls: Plaster
Roof: Flat
Door Height: No - OHD
Door Width: No - OHD
Docks: None
Restrooms: Three or More
Flood Zone: Status Unknown
Possession: At Closing; Subject to Tenant
To Show: 24 Hr Notice; Call Agent
Utilities: Electricity; Gas; Sewer; Water
Listing Office: Heartland Properties

Last Updated: September - 02 - 2024

Information deemed reliable but not guaranteed.

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