28534 U.S. 18 2,100 SF Retail Building Mc Gregor, IA 52157 $2,045,588 CAD ($974.09 CAD/SF) 7.32% Cap Rate

Rare opportunity to acquire a mixed-use commercial property that combines an established diner restaurant / bar / catering business with a highly occupied self-storage operation in a visible Highway 18 location just west of McGregor.
Buildings: 4
Sqft: 22,550
3D Virtual Tour: https://tours.picyourhouse.net/tours/Q7Mh6DdRH
Maggies Storage
The storage component includes approximately 91 units across multiple metal storage buildings and adds meaningful recurring income to the overall property. Unit mix information previously provided includes 10x12, 10x15, 12x20, and 12x30 spaces, appealing to a range of local storage users. The site configuration allows straightforward circulation, convenient pull-up access, and visible branding from the highway. Operating at 94.51% capacity. (86 / 91 units).
Maggies Diner
The 2,100 sqft. restaurant / bar / catering / event center building has been operated as a well-known restaurant in NE Iowa for over 30 years. Located near Prairie Du Chien, Wisconsin, McGregor Iowa, Waukon Iowa and Elkader Iowa there are multiple possibilities for this centrally located building.
Restaurant is highly profitable. Current owners have been in the business for 20 years and have raised their family, built a new house, and more with the income from the restaurant, which seats 75.
Currently only open for breakfast an lunch, there are opportunities for continued growth & expansion, by taking advantage of their bar & liquor license and being open at night for dinner & entertainment.
Catering: Currently do over $50,000 / year in catering but can be a lot higher, including hosting weddings, birthday parties, family events, & class reunions.
Owners will benefit from low taxes & operating costs. Taxes: $1,262 / yr. for Maggies Diner and $6,504 / yr. for Maggies Storage.
If you would like the business to stay as an operating restaurant, the current owners willing to stay up to 3 months and train the new owner.
No previous restaurant experience required. The only thing we ask is that the candidate is organized, has a positive attitude and is willing to learn.