Listed by JLL - Des Moines, Iowa
$760,000
Kibbey Building
Details
Property Type Mixed Use, Retail
Sub Type Restaurant, Creative Office
Square Footage 8,212
Cap Rate 8.74%
Occupancy 100%
Tenancy Multi
Rent Bumps Yes
Year Built 1895
Year Renovated 2018
Acreage 0.300
Investment Type Stabilized
Ground Lease No
Mixed Use | Fully Stabilized Commercial Property
Marketing description
Historic 1895 stone and brick masonry building, comprehensively restored in 2016-2018. All systems entirely new. Fully occupied since completion.
Marshalltown is a mid-sized city in central Iowa with approximately 27,000 residents, serving as the county seat of Marshall County. The city offers a mix of manufacturing heritage, educational institutions, and Midwestern accessibility that shapes its market positioning.
Investment highlights
- Full replacement of electrical, plumbing, HVAC, roof (20-yr membrane), and fire suppression in 2016-2018
- Stone and brick masonry. Built in 1895 - irreplaceable architecture, original hardwood floors, exposed brick, pressed tin ceilings
- Adjacent 0.15-acre green space parcel included in sale. Deed restriction lifts 2032 - full redevelopment rights restore
- E Main Street frontage in downtown core, only 1 block from the courthouse
- Free city parking lot to the south
- Within walking distance to retailers, restaurants, business services, and financial institutions
Listing Contacts
Listed by JLL - Des Moines, Iowa
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Zoning
UC MixedMixed UseUrban Core And Historical District
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