5,800 sqft

$190,000

115 E Main Street, Cherokee IA, 51012

Price per sqft$32.76

Built in1919

Property size5,800 sqft

Property typeCommercial

Overview

Active

Listed Sep 18, 2026

Updated Sep 19

Turnkey mixed-use building in the heart of downtown Cherokee, offering a rare combination of stable commercial income and residential upside in one address. This well-positioned property features two fully leased commercial spaces on the ground floor, providing immediate, dependable cash flow from day one, along with three residential apartments above that add further rental income and long-term value. Ideally located on Main Street, the property benefits from strong foot traffic and visibility, making it an attractive spot for established commercial tenants and residential renters alike. Whether you're an investor looking to add a low-maintenance, income-producing asset to your portfolio, or an owner-operator interested in commercial space with built-in rental income to offset costs, this property checks the boxes: diversified income streams, downtown location, and minimal vacancy risk with all commercial units currently occupied.

Other Property Details

Taxes: $2,184
Tax Frequency: Annually

Listed by Nic Madsen with Gateway Real Estate Advisors
Listing Contact: 712-540-6562

Based on information from Northwest Iowa Regional Board of REALTORS. as of 9/19/2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified.