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$1,200,000
Est. payment /mo
12,330 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 12,330 sqft
Price per Sqft $97
Year Built 1908
Lot Size 0.284 Acres
Property Description
McNally's Foods is a turnkey grocery store opportunity in the heart of downtown Grinnell, Iowa. As the oldest grocery store in town, the business has served the community for generations and remains a daily-needs anchor on the Main Street retail corridor. The offering combines the real estate, the operating business, and furniture, fixtures & equipment in a single transaction, with inventory conveyed separately at closing.
The 12,330-square-foot, single-story building sits on a 0.28-acre downtown parcel zoned C-3 and is fully configured as an operating grocery store, allowing a new owner to step in with no interruption to operations. Revenue is diversified across ten merchandise departments, anchored by a high-performing deli and bakery program and supported by a licensed beer, wine, and liquor operation.
The location is positioned for measurable growth. Two multifamily developments are underway within one block — 53 apartment units immediately adjacent to the store and roughly 40 additional units planned across the street — adding hundreds of new residents within walking distance. The store also benefits from steady foot traffic generated by nearby Grinnell College and the surrounding downtown district.
For an owner-operator or investor, the upside is clear: alcohol and tobacco categories were under-merchandised under prior ownership and offer immediate margin expansion in already-licensed lines, while the expanding residential base supports a credible path toward materially higher annual sales. This is a rare chance to acquire an established, real-estate-secured grocery business in a growing central-Iowa downtown.
The 12,330-square-foot, single-story building sits on a 0.28-acre downtown parcel zoned C-3 and is fully configured as an operating grocery store, allowing a new owner to step in with no interruption to operations. Revenue is diversified across ten merchandise departments, anchored by a high-performing deli and bakery program and supported by a licensed beer, wine, and liquor operation.
The location is positioned for measurable growth. Two multifamily developments are underway within one block — 53 apartment units immediately adjacent to the store and roughly 40 additional units planned across the street — adding hundreds of new residents within walking distance. The store also benefits from steady foot traffic generated by nearby Grinnell College and the surrounding downtown district.
For an owner-operator or investor, the upside is clear: alcohol and tobacco categories were under-merchandised under prior ownership and offer immediate margin expansion in already-licensed lines, while the expanding residential base supports a credible path toward materially higher annual sales. This is a rare chance to acquire an established, real-estate-secured grocery business in a growing central-Iowa downtown.
Location
State IA
County Poweshiek
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Listed by Dharam Chaudhari • Reco Real Estate Advisors | KW Realty Partners
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Dharam Chaudhari
FOUNDER | CEO License ID: Licensed in KS,MO,IA,NE
FOUNDER | CEO License ID: Licensed in KS,MO,IA,NE