2.2 Acres of Improved Commercial Land for Sale in Dubuque, Iowa
333 E 10th, Dubuque, IA 52001
The Novelty Iron Works complex provides a stabilized mixed-use investment with additional conversion opportunity. Located in Dubuque, Iowa's Historic Millwork District, this accumulation of four parcels contained within a full city block is a dynamic adaptive reuse property that allows for plenty of room for adding value post-acquisition. Originally built for the manufacture of steam engines, a portion of the property was completely renovated in 2014 to its current modern industrial design. It now boasts 76 residential units, 13+ individual commercial spaces, an 80-space surface parking lot and approximately 98,000 sq. ft. of vacant space across five floors ready for conversion. The fully-leased residential apartment dwellings range from affordable efficiencies to 2500+ sq. ft. luxury executive suites. The commercial spaces are anchored by long-term tenants including Backpocket Brewery & Arcade and an 8000 sq ft event center - one of the most sought-after venues in the area. In aggregate, the commercial spaces enjoy ongoing vacancy rates of less than 5%. The available conversion space offers several dedicated exterior access points, existing shared elevator and has already been retrofitted with new windows & some mechanicals creating good value-add investment opportunity. Dubuque, Iowa is located on the Upper Mississippi River at the border of both Wisconsin & Illinois and is a regional hub of tourism with the nearby Field of Dreams baseball complex, multiple casinos with entertainment venues and is a favorite stop for travelers on American Cruise Lines and Viking Mississippi river cruises.
Property details
- County
- Dubuque County
- Community
- Dubuque Area
- Elevation
- 607 feet
- MLS Number
- DMLS 149047
- Date Listed
Detailed attributes
Listing
- Type
- Commercial
Structure
- Cooling
- Central A/C
- Heating
- Forced Air
Exterior
- Parking Spots
- 80
Interior
- Rooms
- Basement, Full Bath x 20
- Floors
- Concrete, Wood
Listing history
Date | Event | Price | Change | Source |
---|---|---|---|---|
Mar 19, 2024 | New listing | $25,000,000 | — | DMLS |