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$ 3,750,000
Est. payment /mo
New
101 Third Street Knoxville, IA 50138
7,405 Sqft Lot
UPDATED:
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
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Listed by Realty ONE Group Impact
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