101-105 S. 3rd St.
Modern mixed-use investment with retail, apartments, and strong income potential.
Marketing description
The commercial real estate asset spans multiple addresses from 101 to 105 S. 3rd Street in the vibrant downtown corridor of Knoxville, Iowa. 1 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.
Investment highlights
- A 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.
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