115 E Main StreetCherokee, IA 51012

Description

Turnkey mixed-use building in the heart of downtown Cherokee, offering a rare combination of stable commercial income and residential upside in one address. This well-positioned property features two fully leased commercial spaces on the ground floor, providing immediate, dependable cash flow from day one, along with three residential apartments above that add further rental income and long-term value. Ideally located on Main Street, the property benefits from strong foot traffic and visibility, making it an attractive spot for established commercial tenants and residential renters alike. Whether you're an investor looking to add a low-maintenance, income-producing asset to your portfolio, or an owner-operator interested in commercial space with built-in rental income to offset costs, this property checks the boxes: diversified income streams, downtown location, and minimal vacancy risk with all commercial units currently occupied.

Property Information

Property type

Commercial Sale

Sub-type

Retail

Year built

1919

Lot size

0.07 acres

Days on market

15

MLS^® Listing#

834684

Property Features

Financial Details

Annual taxes

$2,184Tax year 2025

Parcel number

0734209007

Directions

Google Maps