Jennifer Weigel - Nerem & Associates Real Estate Logo
$3,750,000
( $312.50Per Sq Foot )
 $20,131 est/mo Sourced by Back At You

101 Third Street,Knoxville, IA 50138

Knoxville, IA 50138

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Description

Fully renovated, premium mixed-use commercial and residential property located at 101-105 S. 3rd St, Knoxville, Iowa. Positioned in the heart of downtown Knoxville, the property presents a highly diversified, cash-flowing asset leveraging three distinct revenue engines: stabilized long-term residential rentals, high-yield short-term rentals (STRs), and a highly lucrative, scalable wedding and event venue opportunity. The property has recently undergone extensive capital improvements, featuring high-end, modern finishes throughout the residential units and commercial spaces. Historically, the street-level commercial space has housed long-standing local businesses, providing a bedrock of community integration and foot traffic, such as Candi's Flowers which has operated in the Knoxville area since 1983. Recently, current ownership executed a strategic pivot to maximize the property's yield per square foot. By meticulously redesigning and completely renovating the upper floors into premium residential spaces, the building has been transformed into a modern, institutional-grade asset capable of capturing massive seasonal tourism spikes while maintaining baseline profitability through long-term leases.

Details

MLS #745325
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1900
Days On Site37
Listing Provided ByRealty ONE Group Impact | Dennis Darnell

Features

SQ Feet12,000
ZoningRC
Acreage0.17

Exterior

Lot FeaturesRectangular Lot

Taxes

Tax Annual Amount2602

Area Information

StateIA
CountyMarion
CityKnoxville
Zip Code50138
AreaKnoxville
Listing VS Median (in 50138)
Price:
$3,750,000
low | high
Med:
$299,900
100% of Average
sqft:
12,000
low | high
Med:
1,340
100% of Average
$ / sqft:
$313
low | high
Med:
$224
78.382089552239% of Average
On site:
37
low | high
Med:
133
27.81954887218% of Average
Sourced by Back At You

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The information is being provided by Des Moines Area Association of REALTORS®. Information deemed accurate but not guaranteed. Information is provided for consumers personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. Copyright 2026 Des Moines Area Association of REALTORS®. All Rights Reserved.

Contact

Learn More About This Property

Jennifer Weigel

Jennifer Weigel

Nerem and Associates

 (515) 230-5535jenniferaweigel@gmail.com
StateIA
CountyMarion
CityKnoxville
Zip Code50138
AreaKnoxville
Listing VS Median (in 50138)
Price:
$3,750,000
low | high
Med:
$299,900
100% of Average
sqft:
12,000
low | high
Med:
1,340
100% of Average
$ / sqft:
$313
low | high
Med:
$224
78.382089552239% of Average
On site:
37
low | high
Med:
133
27.81954887218% of Average
Sourced by Back At You
Nearby Listings (Within 1/10 mile)
Price: $2.812M - $4.687M
sqft: 9,000 - 15,000
Nearby Listings Property ImageNearby Listings Details
307 E Main Street Property Photo 1
$649,500
307 E Main Street
Knoxville, IA 50138
Listing Updated: August 17, 2026 at 11:14:06 AM PDT