101 Third Street,Knoxville, IA 50138
Knoxville, IA 50138
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.
Details
| MLS # | 745325 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1900 |
| Days On Site | 38 |
| Listing Provided By | Realty ONE Group Impact | Dennis Darnell |
Features
| SQ Feet | 12,000 |
|---|---|
| Zoning | RC |
| Acreage | 0.17 |
Exterior
| Lot Features | Rectangular Lot |
|---|
Taxes
| Tax Annual Amount | 2602 |
|---|
Area Information
| State | IA |
|---|---|
| County | Marion |
| City | Knoxville |
| Zip Code | 50138 |
| Area | Knoxville |
| Listing VS Median (in 50138) | |
Price: $3,750,000 low | high Med: $299,900 sqft: 12,000 low | high Med: 1,340 $ / sqft: $313 low | high Med: $224 On site: 38 low | high Med: 134 | |
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Learn More About This Property
| State | IA |
|---|---|
| County | Marion |
| City | Knoxville |
| Zip Code | 50138 |
| Area | Knoxville |
| Listing VS Median (in 50138) | |
Price: $3,750,000 low | high Med: $299,900 sqft: 12,000 low | high Med: 1,340 $ / sqft: $313 low | high Med: $224 On site: 38 low | high Med: 134 | |
