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SARAH KAVALIER

sarah@sarahkavalier.com +1(515) 202-6801

$ 3,750,000

Est. payment | -/mo

7,405 Sqft Lot

Save

$ 3,750,000

Est. payment | -/mo

Save

7,405 Sqft Lot

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 745325

HOA Y/N No

Year Built 1900

Annual Tax Amount $2,602

Lot Size 7,405 Sqft

Acres 0.17

Property Description

Fully renovated, premium mixed-use commercial and residential property located at 101-105 S. 3rd St, Knoxville, Iowa. Positioned in the heart of downtown Knoxville, the property presents a highly diversified, cash-flowing asset leveraging three distinct revenue engines: stabilized long-term residential rentals, high-yield short-term rentals (STRs), and a highly lucrative, scalable wedding and event venue opportunity. The property has recently undergone extensive capital improvements, featuring high-end, modern finishes throughout the residential units and commercial spaces. Historically, the street-level commercial space has housed long-standing local businesses, providing a bedrock of community integration and foot traffic, such as Candi's Flowers which has operated in the Knoxville area since 1983. Recently, current ownership executed a strategic pivot to maximize the property's yield per square foot. By meticulously redesigning and completely renovating the upper floors into premium residential spaces, the building has been transformed into a modern, institutional-grade asset capable of capturing massive seasonal tourism spikes while maintaining baseline profitability through long-term leases.

Location

State IA

County Marion

Area Knoxville

Zoning RC

Interior

Heating Natural Gas

Cooling Central Air

Fireplace No

Appliance Cooktop, Dryer, Dishwasher, Microwave, Refrigerator

Exterior

Roof Type Rubber

Private Pool No

Building

Lot Description Rectangular Lot

Foundation Brick/Mortar

Sewer Public Sewer

Water Community/Coop

Schools

School District Knoxville

Others

Tax ID 0842774000

Monthly Total Fees $216

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Listed by Realty ONE Group Impact

Schools and Properties Nearby

Find out why customers are choosing LPT Realty to meet their real estate needs

+1(515) 202-6801

sarah@sarahkavalier.com

225 NW 18th St, Ankeny, IA, 50023, USA

Learn More About LPT Realty

101 Third Street Knoxville, IA 50138