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$3,500,000
Est. payment /mo
84,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 84,000 sqft
Price per Sqft $41
MLS Listing ID 829318
Year Built 1919
Annual Tax Amount $48,862
Tax Year 2023
Lot Size 0.340 Acres
Acres 0.34
Property Sub-Type Commercial
Property Description
The 8-story Frances Building is one of the great gems of architecture in downtown Sioux City. It's rich history includes a track record of being a fantastic investment. Offered here at a 9.9% cap rate, that track record has strong potential to continue. With an estimated 54,000 sf of rentable space, it has been a hub for commerce in the heart of Siouxland for over 100 years. Street level restaurant and retail businesses contribute to the vibrancy of downtown, while the office spaces remain bustling with solid occupancy rates. The owner has maintained the Frances Building's reputation as a desirable workplace by investing in improvements to the the elevator systems, roof, and restrooms.
Location
State IA
County Iowa
Area Midtown
Building
Sewer City
Water City
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Listed by LPT Realty, LLC