301 Main Street, Ames, Iowa
Mixed-use. 56 residential units, 10,000 square feet first floor commercial
Full occupancy of residential units, Build-out of commercial spaces in progress
$4M acquisition and construction; Appraised at $6M
The former Sheldon Munn Hotel has anchored the center of the downtown district of Ames, Iowa for nearly a century. The four-story concrete frame brick-faced building built in 1916 was designed by the architectural firm Proudfoot & Bird and constructed as a 72-room hotel with a fourth-floor ballroom.
The main level now consists of a series of small commercial spaces, and the upper three floors have been converted into 56 apartments. Renovations have completely updated all common areas and tenant spaces within the building. Significant upgrades have been made to the mechanical, electrical, and plumbing infrastructure throughout. All commercial storefronts and entries have been replaced.