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Principal Financial Building - Availability Details

111 West State Street, Mason City, IA 50401

  • For Sale $16,000,000
  • City Mason City
  • Neighborhood Mason City
  • Zip Code 50401
  • Property Type Office
  • Property Size 113,022 Sqft
  • Lot Size 2.3 Acre
  • Property Tenancy Single Tenant
  • Building Class B
  • Year Built 1991
  • Date Updated 12 Nov, 2020

Single-tenant NNN office lease with Principal Life Insurance Company with just over 4 years remaining on lease. The Mason City market labor force serves as Principal Financial Group's pension account services. This investment opportunity includes annual rent increases of 1%. The Landlord is responsible for roof, foundation, underground, structural and exterior walls.

Mason City is a town in the northern corridor of Iowa with a population of just under 30,000 within a three mile radius and is the county seat of Cerro Gordo. This site is located just north of Willow Creek, west of Southbridge Mall, and just west of the downtown commercial district. This office is directly adjacent to Hwy-65, approximately 3.5 miles north of Hwy-18, and just under 8 miles east of I-35.

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Location

  • City Mason City, IA
  • Neighborhood Mason City
  • Zip Code 50401

Contacts

broker

Heath Bullock

SVN | CREATE Commercial Real Estate Advisors

broker

Patrick Graham

SVN | CREATE Commercial Real Estate Advisors

Advisor

Highlights

  • Located In Business Friendly Northern Iowa Corridor
  • Strong Educated Reliable Work Force
  • Approximately $12M In Capital Improvements In the Last 5 Years
  • Six Story 113,022 SF Class A Office Redundant Automated Office Asset

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