Iola KS Real Estate & Commercial for Sale

**Income-Producing Investment | Near New Lehigh Portland State Park** Exceptional opportunity to acquire a stabilized commercial asset just a half-block off Iola's historic downtown square. This property offers immediate cash flow with a current tenant in place who desires to remain, making it a "turn-key" addition to any investment portfolio. With the grand opening of the Lehigh Portland State Park scheduled for this summer, Iola is poised for a significant increase in regional tourism and foot traffic. ?PROPERTY HIGHLIGHTS ?Stabilized Income: Benefit from immediate rental income. The established tenant provides long-term stability for the new owner. ?TOURISM GROWTH: Positioned to capitalize on the influx of visitors to the state's newest flagship park, featuring 14 miles of trails and a 90-acre lake just minutes away. ?Strategic Location: Situated on East Jackson, the building captures steady traffic from the square while offering easier accessibility and parking than the main thoroughfares. ?Hospitality Infrastructure: Fully built-out for its current use as a tavern, featuring a spacious open floor plan and commercial-grade facilities. ?VERSATILE ASSET: Solid construction and an open layout provide long-term flexibility for retail, a boutique "lake-themed" shop, or professional office use. ?THE OPPORTUNITY This is a real estate only sale. No business entities, trade names, or liquor licenses are included. This is a rare chance to purchase a downtown Iola property that is already performing and perfectly timed for the city's upcoming economic boost. ?Note to Buyers: Property sold as-is. Please do not disturb the tenant. Financials regarding the current lease agreement are available to qualified buyers upon request.

Corner location, three lots. NOTE - City has designated the home as uninhabitable and condemned for occupation. Anyone entering the home are entering at their own risk and should be extremely cautious due to the City's findings. The lots are currently zoned commercial. After the house is razed, the County will re-evaluate the property taxes. This property has unlimited potential for a commercial site. With the volume of traffic on State Street it is a prime location. It's close proximity to HWY 54, the public park and the new state park currently under development, the possibilities are endless! Great opportunity for an entrepreneur!