704 /706 Central Avenue

Here is your chance to own a piece of downtown Fort Dodge. This is a nice cashflow opportunity. Building is fully leased with long term tenants. Upstairs has 5 year lease starting January 2024. First 2 years at $1,750/month and next 3 years at $1,950/month. Two tenants on main floor, both in the salon/spa business. One tenant pays $1,000/month ending 3/31/25. Other tenant just started 2 year lease at $2,000/month. Also plans to lease basement area for $600/month. Tenants responsible for electricity and gas. 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.