River City Mall
300 Main St
Keokuk, IA 52632
Highlights
- - 208,492 SF building with 41 units
- - Built in 1969, offering a solid foundation for business
- - High Traffic with average of 10,700 Vehicles per Day
- - Zoned C- Commercial for versatile retail opportunities
- - Located in the vibrant Iowa area
- - 15% occupancy, providing potential for growth
- - Flexible space for diverse retail ventures
- - Proximity to major highways for high visibility
- - Great potential for revitalization and redevelopment
- - Formerly a bustling retail hub
- - Home to several good tenants generating cash flow
Description
Welcome to River City Mall in Keokuk, IA, a compelling investment opportunity with a storied past and a wealth of potential.
Positioned on Highway 218, this property is just steps away from the majestic Mississippi River and serves as the only bridge across the river for over 25 miles. Once a bustling mall and the epicenter of retail in the region, this 208,492 SF building with 41 units is ready for a new chapter. High visibility and traffic counts with average of 10,700 Vehicles per Day.
While in need of significant renovation to restore its former glory, it boasts a closed 3-cinema theater—the only one within a 35-minute radius of Keokuk. With leaks in several places, the roof requires attention, but the 9-acre parcel offers a compelling redevelopment opportunity. The property is home to several good tenants that contribute to cash flow and will play a pivotal role in jump starting the revitalization process.
Additionally, the former restaurant lot across the street, a 0.4-acre parcel, is available for purchase, further expanding the potential for this prime location.
Don't miss the chance to be part of the renaissance of this iconic property and shape its future success.
Situated just steps away from the majestic Mississippi River, the River City Mall in Keokuk, Iowa, offers a prime retail investment opportunity. Lee County is served by Road, Rail, and River, providing a strategic advantage for businesses. The county benefits from two four-lane highways: US 218 (the Avenue of the Saints) and US Highway 61, offering efficient access to the region. Additionally, Lee County is serviced by the main rail line of Burlington Northern Santa Fe (BNSF) Railway, the largest freight rail transportation network in North America, connecting businesses to the global supply chain.
The Mississippi River further enhances transportation options, providing access to three inter-modal port terminals and serving as a vital transportation route for industries from Saint Paul, Minnesota to the Gulf of Mexico. Businesses in Lee County have a unique advantage due to the efficient road, rail, and river transportation options, enabling them to connect with regional and international markets seamlessly.
Lee County offers a range of incentives to support business growth and development. The county is home to three Opportunity Zones available for investment, providing tax incentives for qualified investments. Additionally, the State of Iowa offers favorable tax conditions, including tax exemptions for machinery and equipment, as well as tax credits for qualifying businesses through programs like the High-Quality Jobs Program.
For eligible businesses, Lee County offers tax abatement programs for new construction, potentially providing up to a 100% exemption from local property taxes for a period not to exceed twenty years. The Revolving Loan Fund (RLF) and Lee County Port Authority further support eligible businesses with low-interest loans, tax-exempt bonds, and the establishment of Foreign Trade Zones, fostering economic growth and collaboration.
The River City Mall is strategically located as the first stop upon entering Iowa from Illinois and boasts the only bridge across the Mississippi for 25 miles in either direction, ensuring high visibility and traffic. With an average of 10,700 vehicles passing through daily, the area is a bustling crossroads for locals and visitors alike. The mall itself is the largest in the area, serving as a focal point for shopping, dining, and entertainment, making it an attractive destination for retail investors.
The surrounding community thrives with a rich cultural heritage, offering attractions such as the historic Grand Theater, the George M. Verity River Museum, and the Keokuk National Cemetery. The dining experiences along Main Street further contribute to the area's vibrant and diverse offerings. The location's unique blend of transportation access, business incentives, and cultural richness presents a compelling opportunity for retail investors seeking to become part of this unique and bustling market.
Lee County, with its 33,215 residents, provides access to over 266,475 in the potential regional labor force, offering a skilled and diverse workforce. Located in the heart of America in the southeastern portion of Iowa, Lee County embodies Midwestern charm and is home to a multitude of Fortune 500 and international companies, positioning it as a prime location for retail and street retail investment.
