Ryerson Realty LLC

NEW BUSINESS

704-706 Central Ave Fort Dodge, IA

​Here is your chance to own a piece of downtown Fort Dodge. This is a nice cash flow opportunity. The building is fully leased with long-term tenants. Upstairs has a 5-year lease starting January 2024. First 2 years at $1,750/month and next 3 years at $1,950/month. There are two tenants on the main floor in the salon/spa business. One tenant pays $1,000/month ending 3/31/25. The other tenant just started a 2-year lease at $2,000/month. Also plans to lease the basement area for $600/month. Tenants are responsible for electricity and gas. The owner pays water, some electricity, taxes, and insurance. With current income not including basement property brings in $57,000/year. Approximate yearly expenses are $15,784: $4,800 for utilities, $8,296 for taxes, and $2,688 for insurance. NOI is $41,216. Cap rate 9.01. New roof 2020.

Great Income Property!!!

 23585 & 23639 Garfield St, Fort Dodge, IA 50501

Opportunity to own an entire city block in Coalville/Fort Dodge IA. This property contains two houses and 3 vacant lots. The main house is a 3 bed 1 bath Ranch with a full basement, attached 2 car plus a large detached 2-car garage/shop w/220 hookup. A few of the amenities include its own well and septic, wood-burning fireplace,
water softener, sump pump, and A/C new in 2023. Peacefully situated on the end of a dead-end street. Relax on the back patio tucked in next to the trees along the Des Moines River.

Sold in addition to a 2nd 2 bed 2 bath house. Double-deep garage with shop or storage area. This house also has it's own septic tank and shares a well with the neighbors. The full basement has a sump pump and egress window. Newer water heater and A/C in 2022. That's not all. 3 additional vacant lots that could be used for development. Tons of potential with this property.
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