1217 & 1221 2nd Street, Perry, IA 50220

Property Description

Located in the heart of downtown Perry, this historic building fondly remembered as the locally owned Ben Franklin for many years offers a rare mixed-use opportunity with strong character and long-term investment appeal. The upper level features five thoughtfully renovated apartments with a variety of layouts, ranging from a 900 sq ft one-bedroom unit to a 3,000 sq ft four-bedroom, three-bath residence, along with three two-bedroom options around 1,800 sq ft.. The owners' suite features high-end kitchens with premium appliances and a one-of-a-kind butcher block, plus vaulted living spaces, exposed brick, oak woodwork, maple floors, custom blinds. All residential units have private HVAC, water, and electric systems. The main floor offers over 10,000 sq ft of commercial space (currently occupied) featuring two bathrooms, a loft office, and ample storage in a clean, dry basement. Extensive building improvements include updated plumbing and electrical, newer efficient windows, major roof replacements and structural enhancements in 2023, recent tuck-pointing, a west-side deck, LED lighting upgrades, and nine dedicated tenant parking spaces, making this a truly turnkey downtown asset.