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This charming two-story building of 4,992 square feet is in the heart of downtown Kalona. It features soaring decorative ceilings, an upper level, once used as a dance hall, with gorgeous wood floors and tons of architectural details throughout. Both floors are being utilized as an antique/consignment store with several unique and eclectic collections for sale by numerous vendors. A buyer can take the building in two ways. First, it can be delivered vacant, provided vendors are given 60 days’ notice. A second option, at no additional cost, is to continue operating the business and keep the 30 existing vendors that pay a total of $3,200 per month in booth rental. The owner currently manages the business. The business brings in $38,000 per year from fixed rent from vendors, taxes are $3,836 per year and expenses are estimated to be $9,048 (including insurance and utilities). The NOI would be $25,516 with this scenario. In the past a portion of the upper floor was configured as a studio apartment with its own exterior entrance. This could be done again allowing the new owner to have a perfect work/live situation.
