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Flex Commercial Building 215 Market St 3,200 SF Office Building Lake Park, IA 51347 $222,981 CAD ($69.68 CAD/SF)
Investment Highlights
- Main Street
- Growing Community
- New Windows
Executive Summary
Nestled in the heart of Lake Park's business district, this is an ideal main street location. This building provides rental income through theexisting 3 business and laundromat, with opportunities for additional rental space or use for your personal business location. Being your ownlandlord while also having tenants contribute to the rent is a great option. The facade of the building has been updated with new windows, doors, and awnings giving a professional first impression. Lake Park is a growing community with a new school, community amenities, and risinghome values.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$23,846
|
$7.45
|
| Other Income |
$8,367
|
$2.61
|
| Vacancy Loss |
$4,184
|
$1.31
|
| Effective Gross Income |
$28,029
|
$8.76
|
| Taxes |
$1,707
|
$0.53
|
| Operating Expenses |
$13,203
|
$4.13
|
| Total Expenses |
$14,910
|
$4.66
|
| Net Operating Income |
$13,119
|
$4.10
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $23,846 |
| Annual Per SF | $7.45 |
| Other Income (CAD) | |
|---|---|
| Annual | $8,367 |
| Annual Per SF | $2.61 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $4,184 |
| Annual Per SF | $1.31 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $28,029 |
| Annual Per SF | $8.76 |
| Taxes (CAD) | |
|---|---|
| Annual | $1,707 |
| Annual Per SF | $0.53 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $13,203 |
| Annual Per SF | $4.13 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $14,910 |
| Annual Per SF | $4.66 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $13,119 |
| Annual Per SF | $4.10 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
3,200 SF
Building Class
B
Year Built
1947
Price
$222,981 CAD
Price Per SF
$69.68 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
3,200 SF
Building FAR
0.32
Lot Size
0.23 AC
1 1
Somewhat walkable
30/100
Exceptionally drivable
90/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 01-27-176-014 | Total Assessment | $140,845 CAD |
| Land Assessment | $17,710 CAD | Annual Taxes | $1,707 CAD ($0.53 CAD/SF) |
| Improvements Assessment | $123,134 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
01-27-176-014
Land Assessment
$17,710 CAD
Improvements Assessment
$123,134 CAD
Total Assessment
$140,845 CAD
Annual Taxes
$1,707 CAD ($0.53 CAD/SF)
Tax Year
2025
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Flex Commercial Building | 215 Market St
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