318 E Main Street Lamoni, IA ^$ 1,200,000

318 E Main Street

^$ 1,200,000

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318 E Main Street

Lamoni, IA, 50140

^$ 1,200,000

Bedrooms-- Baths--

Monthly Estimate*

^$ 7,486

318 E Main Street, Lamoni, IA 50140 - Image 1

318 E Main Street, Lamoni, IA 50140 - Image 2

318 E Main Street, Lamoni, IA 50140 - Image 3

318 E Main Street, Lamoni, IA 50140 - Image 4

318 E Main Street, Lamoni, IA 50140 - Image 5

318 E Main Street, Lamoni, IA 50140 - Image 6

Commercial Property for sale in Lamoni, IA

for $1,200,000. This building was built in 1978 on a lot size of 1.

20 UNITS WITH ALL ONE BEDROOM WITH LAUNDROMAT ALL REMODELED AND IN EXCELLENT CONDITION. FULL COMMERCIAL LAUNDRY . 6 WASHING MACHINES AND 8 DRYERS. ALSO INCLUDES OFFICE AND OFFICE ELEVATOR. LISTING BROKER IS OWNER OF PROPERTY. PRICED AT SUBSTANTIAL REDUCTION BUT PRICE IS FIRM.AT 35K A DOOR PLUS LAU LAMONI IOWA IS HOME TO GRACELAND COLLEGE. NO OWNER FINNANCING AND MUST HAVE PROOF OF FUNDS AND PREAPPROVAL LETTER WHEN SUBMITTING AN OFFER. Owner may consider selling with 400k down and the 300k owner financed at 7 percent only 3 year balloon. Owner must approve AND PRICE SUPER FIRM.

Commercial Active

Price

^$ 1,200,000

Property Type

Commercial

Taxes

^$ 8,192

Style

Lot Size

Year Built

1978

Town/City

Lamoni

County/Region

Decatur

MLS | Web ID

6311422

Features

General

Sewer City Sewer/Connected

Heating Ductless

Utilities Electric Separate Heating Separate Hot Water Separate

Zoning Business/Commercial

Garage Spaces 0

Construction Materials Brick

Year Built 1978

Property Subtype Apartment

Tax Year 2022

Current Use Office

Gross Income 150000

Accessibility Other

County Decatur

Net Operating Income 100200

Property Type Commercial Sale

Contingency None

Possible Use Diversified Income Other

Status Active

Directions Main Street Apartments LLC OFF EAST MAIN STREET

Association Name WCIR

Open Parking Spaces 20

Number Of Units Total 21

Lot Size Units Acres

Lot Size Square Feet 43560

Tax Annual Amount 8192

Living Area Units Square Feet

Standard Status Active

Legal Description 02.67.27 COM AT SE COR SE SW W 75' TO PT OF BEG. W 109.3 N 172' E 109.45' S 172' TO BEG IN LOTS 16 & 18 BLK 1 EASTERNS AUTUMN HOUSE

Exterior

Parking Features Common Unassigned

Water Source Public

Lot Dimensions ONE HALF ACRE FOR 20 UNITS WHUCH INCLUDE ELEVATOR PLUS EMPTY LOT ONE HALF ACRE

Lot Size Acres 1

* Excluded Features

List By

Michael Powers

Listing Agent

Power House Exclusive Real Estate Inc.

Broker

engineersat@aol.com

Affordability Calculator

$8,169

Per Month

Monthly Principal & Interest: $7,486
Monthly Property Taxes: $683
Monthly Home Insurance: --

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Down Payment

Loan Term

Interest Rate

Yearly Property Taxes

Yearly Home Insurance

Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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THE TIME TO SELL IS NOW! What's my home worth?

Nearby

Trends
Schools

Commerical listings in Lamoni, IA

Average List Price ^$875,000

Percent of Sale Price 27%

About Lamoni, IA

2,252 Population

-3% Since 2002

^$33,405 Median Income

27.05 Median Age

23% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

2872932 Elementary School

2872966 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
1/26/2025	$700,000	-12.50%	Price Down
3/7/2024	$799,999	-20.00%	Price Down
11/10/2023	$999,999	-16.67%	Price Down
9/14/2023	$1,200,000		Listed Price

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318 E Main Street, Lamoni, IA, 50140 is a Commercial Property for sale at $1,200,000 with a lot size of 1. 318 E Main Street was built in 1978. The property's zip code is 50140 which is in Lamoni, IA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

The data relating to real estate on this web site comes in part from the Internet Data Exchange (IDX) Program of the Iowa Association of REALTORS service.

The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data is deemed reliable but is not guaranteed accurate by the the MLS. The MLS may, at its discretion, require use of other disclaimers as necessary to protect participants and/or the MLS from liability. Data is updated as of 12/6/2025.

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318 E Main Street

Commercial Property for sale in Lamoni, IA

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