Episode Summary

Host Spencer Schelp talks with Josh Kirby of Stanbrough Realty about a rare small-market portfolio in Ottumwa, IA — a three-building mixed-use property held by the same ownership for over 30 years. The asset includes a 4,500 SF Nucara Pharmacy building (built 2005), a 6-unit 12,000 SF strip center (built 1968), and a two-story mixed-use building with four new apartments (2020 conversion) above 6,000 SF of office space.

The property is free & clear, asking $1.8 million, with seller financing available (15–20 % down, 5-year term, interest-only possible). Current NOI ≈ $166 K, 100 % occupied today with minor vacancy expected early 2026. Ownership is retiring and prefers to sell on contract to a qualified operator who values steady cash flow and small-market stability. Local management is in place for hands-off buyers.