**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.
- Parking:
- Parking Lot, Paved, On Street, Assigned
- Utilities:
- Electricity Available, Natural Gas Available, Sewer Available, Water Available
- Exterior Features:
- Building Sign, Delivery Door(s)
- Interior Features:
- Public Restroom, Refrigerator Facility
- Zipcode:
- 66749
- Street:
- Jackson
- Street Number:
- 118
- Street Suffix:
- Street
- Longitude:
- W96° 36' 0.1''
- Latitude:
- N37° 55' 28.1''
- Street Dir Prefix:
- E
- Zoning:
- Comm
- Directions:
- US Highway 169 to Iola Exit 54 Highway Go West on 54 to the Iola Square Go North on Jefferson to Jackson St Go East on Jackson until you have reached 118 E Jsckson
- Mls Area Major:
- 490 - Allen County, KS
- Office Name:
- Crown Realty
- Agent Name:
- Jennifer Chester
- Tax Annual Amount:
- $0
- Association Fee:
- $0
- Stories Total:
- 1
- Business Type:
- Bar/Tavern/Lounge
- Current Use:
- Retail, Bar/Tavern/Lounge
- Lot Size Dimensions:
- 67x120
- List Agent Mls Id:
- 586004431
- List Office Mls Id:
- CRWN11
- Listing Term:
- Cash, Conventional, Owner May Carry
- Mls Status:
- Active
- Modification Timestamp:
- 2026-08-28T14:07:10Z
- Originating System Name:
- HMLS
Community: None, Commercial Sale For Sale
118 E Jackson Street, Iola, Kansas 66749
- Property Type :
- Commercial Sale
- Listing Type :
- For Sale
- Listing ID :
- 2612317
- Price :
- $135,000
- Year Built :
- 1907
- Status :
- Active
- Property Sub Type :
- Retail



























