210 N Main ST Active Save Request In-Person Tour Request Virtual Tour
Clarion,IA 50525
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 2,356 sqft
Price per Sqft $148
MLS Listing ID 65899
Year Built 1900
Annual Tax Amount $2,280
Property Sub-Type Commercial
Property Description
This commercial property is home to Thrifty White Pharmacy a very strong, regional chain w/ 91 stores. Clarion is county seat for Wright county, pop. 12,644. Thrifty has Leased since 2018, current lease through March,2028 with a recent extension until March, 2031. Tenant pays property taxes and repairs up to $400. Tenants have put nearly $100,000 recent upgrades including new roof in 2018, repaired the back wall, electrical updated in 2021, new a/c unit in 2023, new back doors and garage door in 2024.
Income:
Commercial 3400 sq/ft + 450sq/ft cold storage = $2,475/ mo
Apartments: 2 units each unit approx. 1,200 sq/ft = $1,225/mo.
Gross Rents: $44,400/yr.
Expense:
Insurance $2,400/yr
Mgt fee $2,200/yr
Maintenance $2,000/yr
Total $6,600/yr
Net $37,800/yr
Based on $350,000 price/$37,800 NOI shows around 11percent ROI
Location
State IA
County Wright
Zoning Commercial
Interior
Cooling Window Unit(s),Central Air
Flooring Parquet,Carpet
Exterior
Roof Type Rubber
Building
Story 3
Foundation Brick/Mortar
Water Public
Structure Type Wood,Masonry/Concrete,Combination