302 10th Street , Corning, IA 50841(Adams County)

The brick building, originally built in 1968 and added on in 1979 and 2001, includes over 8,696 square feet of combined floor space, storage, an equipment shed, along with a 10' x 10' concrete loading dock and metal canopy entrance. The building is well-maintained and suitable for a range of commercial uses. It offers a combination of practical layouts and essential infrastructure, such as electrical, plumbing, and HVAC systems, that support both current and future tenants. Investors will benefit from the propertys existing income stream, and the offering is ideal for those seeking exposure to commercial real estate ownership without assuming the full capital requirements of a complete purchase. In addition, the concrete parking lot consists of 26,000 square feet and is located on the east side of the building.

The current tenant is HyVee, Inc., and has an existing triple net lease through 2030, with an option to renew the lease for future years. The current annual lease rent is $22,972 and is scheduled to rise in 2026 to $24,580. Please contact the listing agents for further details and to request copies of the lease agreements before placing your bid.

The sale will be conducted through a sealed bid process, allowing interested parties to submit confidential written offers on or before Thursday, November 20th, 2025, at 5:00 PM (CST). Bidders are encouraged to submit their total dollar bid for the 16.50% ownership interest. Successful bidders will complete due diligence before placing a written bid. All customary expenses, including taxes, insurance, and maintenance, will be allocated proportionally based on the final ownership percentage. Closing will take place on or before Friday, December 12th, 2025.

This sealed bid offering provides an opportunity to partner in a stable commercial asset with proven income and potential for appreciation under shared ownership. For additional details or to receive bid instructions, please contact the listing agent.

Auction Details & Terms

Auction Location Map

Sale Terms and Conditions: Peoples Company is handling the sale of a 16.50% ownership stake in the commercial property at 302 310th Street, Corning, Iowa 50841, through a Sealed Bid Auction.

Sealed Bid Submittal Process & Deadline: Sealed Bids, in written or electronic format, for the Property will be due no later than 5:00 P.M. CST, on Thursday, November 20th, 2025, to the following:

Peoples Company

c/o Andrew Zellmer, ALC or Doug Bear, ALC

12119 Stratford Drive

Clive, Iowa 50325

Sealed Bids for the Property shall be submitted on the Sealed Bid Submittal Form that can be obtained by contacting Listing Agent. Handwritten bids, if legible, may be acceptable in the Seller and Brokers sole discretion. Please complete each blank field provided in the Sealed Bid Submittal Form. Bids can be submitted via mail or email, but must be received by the deadline date to be considered.

Upon the receipt of all submitted bids, the Seller may accept or reject any bid or offer or enter into negotiations with one or more Bidders. Upon the Sellers acceptance of any bid or offer, the winning Bidder(s) and Seller shall enter into a binding Offer to Buy. The Seller shall not be obligated or bound to sell the Property until the Seller has entered into a fully executed, definitive Offer to Buy.

Agency: Peoples Company and its representatives are agents of the Seller. Winning bidder(s) acknowledge that they are representing themselves in completing the sales transactions.