104 N 16th Clarinda, IA $ 450,000
104 N 16th
$ 450,000
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104 N 16th

Clarinda, IA, 51632
$ 450,000
Bedrooms-- Baths0.0 Sq 4,820

Monthly Estimate*

$ 2,841

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Multi-Family Home for sale in Clarinda, IA

for $450,000. This 4,820 square foot home was built in 1900.

Garrison House — For Sale Two Ways to Acquire This Established Restaurant & Lodging Business Garrison House offers a rare opportunity to step into a proven, profitable operation in two flexible structures, depending on the buyer's goals: Option 1 — Restaurant Business Only: $150,000 Acquire the turnkey restaurant operation — including established food, beverage, retail, and catering revenue streams — while leasing the building from the seller. This path is ideal for an operator who wants to step directly into a running, profitable business without the capital outlay of real estate ownership. The restaurant alone generated $220,997 in total income and $138,716 in gross profit through August 2026, with $29,717 in net ordinary income for full-year 2025. Option 2 — Total Sale (Business + Real Estate): $450,000 For a buyer looking to own both the operation and the property outright, the complete package includes the restaurant business, the building, and the integrated lodging operation (B&B and Airbnb income). This structure offers full control — no landlord relationship, direct ownership of the real estate, and the ability to capture both restaurant and lodging income streams (combined 2025 revenue of $276,487) under one roof. Why This Flexibility Matters Whether you're an operator looking to grow into ownership over time, or an investor seeking a full turnkey acquisition, Garrison House's dual-option structure lets you choose the path that fits your capital position and l

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Multi-Family Active

Price

$ 450,000

Property Type

Multi-Family

Taxes

$ 1,401

Style

Year Built

1900

Town/City

Clarinda

County/Region

Page

MLS | Web ID

6342569

Features
General
Sewer City Sewer/Connected
Heating Forced Air
Garage Spaces 0
Architectural Style Other
Construction Materials Brick
Year Built 1900
Stories Count 2
Tax Year 2026
Gross Income 220000
Accessibility None
County Page
Operating Expense 160930.45
Property Type Residential Income
Contingency None
MaintenanceExpense 9392.9
Status Active
Directions West side of square Clarinda Iowa
Number Of Units Total 3
Lot Size Units Acres
Land Lease Y/N N
Tax Annual Amount 1401
Electric Expense 909.71
Fuel Expense 481
Trash Expense 54
Water Sewer Expense 230
Living Area Units Square Feet
Standard Status Active
Legal Description ORIG S 17' LOT 7 & N 23 1/3' LOT 8 BLK 24
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Interior
Basement Full
Total Fireplaces 0
Fireplace Y/N N
Total Baths 0
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Exterior
Water Source Public
Lot Dimensions 40 x 140
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* Excluded Features
List By
Charles Thomas

Listing Agent

Thomas Realty

Broker

realtorchuck@yahoo.com

Email

Affordability Calculator

$2,958
Per Month
96%
4%
0%
Monthly Principal & Interest
$2,841
Monthly Property Taxes
$117
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.49% 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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Nearby
2872932 Elementary School
2872966 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
9/15/2026$450,000 -18.18% Price Down
9/10/2026$550,000 Listed Price

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104 N 16th, Clarinda, IA, 51632 is a Multi-Family Home for sale at $450,000 with 4,820 sqft. 104 N 16th has 0.0 baths and was built in 1900. The property's zip code is 51632 which is in Clarinda, IA