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$ 1,200,000
Est. payment | /mo
3.5 Acres Lot
$ 1,200,000
Est. payment | /mo
3.5 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 741156
HOA Y/N No
Year Built 1978
Annual Tax Amount $513,750
Lot Size 3.500 Acres
Acres 3.5
Property Description
Rare value-add redevelopment opportunity with major upside potential. Situated on approximately 3.5 acres, this former motel property offers the ideal setup for an apartment conversion, workforce housing project, extended stay concept, or mixed-use redevelopment.
The existing layout creates an opportunity to reposition the asset into income-producing multifamily units while leveraging the large site for future expansion, additional amenities, storage, parking, or new construction opportunities. Strong demand for affordable housing and rentals in the area makes this a compelling play for investors, developers, and operators looking for forced appreciation.
In addition to the redevelopment parcel, the offering includes another parcel generating supplemental income, creating immediate cash flow while plans and improvements are underway.
The existing layout creates an opportunity to reposition the asset into income-producing multifamily units while leveraging the large site for future expansion, additional amenities, storage, parking, or new construction opportunities. Strong demand for affordable housing and rentals in the area makes this a compelling play for investors, developers, and operators looking for forced appreciation.
In addition to the redevelopment parcel, the offering includes another parcel generating supplemental income, creating immediate cash flow while plans and improvements are underway.
Location
State IA
County Davis
Area Bloomfield
Zoning C
Interior
Heating Electric, Forced Air, Natural Gas
Cooling Central Air
Fireplace No
Appliance Cooktop, Dryer, Dishwasher
Exterior
Private Pool No
Building
Lot Description Rectangular Lot
Foundation Block
Sewer Public Sewer
Water Public
Others
Tax ID 01002181
Monthly Total Fees $42, 812
Acceptable Financing Cash
Listing Terms Cash
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Listed by LPT Realty, LLC
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