A charming property for sale in Indianola inspires the question: Is it a family home with a bonus business attached, or a successful venue with the added convenience of a three-bedroom house?
Listed for sale by Realtor Josh Baker, the 2,465-square foot primary home sits on First Avenue, a prime location conveniently close to its commercial neighbors, but also a quiet and residential environment outside of regular business hours.
Accessible to Indianola’s Town Square through the Salem Court alleyway, tap dance and ballet teacher Ellen Belle Foster began hosting classes in the home’s basement in 1954. She later partnered with Richard Powell to create Foster Powell Dance and provide creative inspiration to generations of Iowa students.
Foster later expanded the business across the home’s courtyard into a custom-designed 1,568-square-foot building known as The Studio. Now a popular local venue for weddings, parties and photo shoots, The Studio generates steady income that could off-set the loan on both structures.
“You are 100 yards from the post office, and everything that happens on the town square,” Baker said.
Built in 1920, the one-and-a-half story, Craftsman-style home includes a front porch for admiring the neighborhood and a private outdoor space that can be enjoyed when not occupied by clients or photographers.
Inside the front door, the living space is gathered around a fireplace and recessed bookcases. It connects to a second, light-filled family area and a separate, more formal dining section. The kitchen has been upgraded with new appliances and includes an attractive breakfast nook underneath a stained-glass window. Also on the first floor, there is a laundry space and a former bedroom that has been converted into a working home office.
Upstairs, the home adds three bedrooms, including the primary suite that shares a room that could be used as a nursery, second office, or dressing room.
Baker admired the work Foster dedicated to the home’s upkeep. “There’s been plenty of updating. She’s so meticulous about everything she’s done. And she’s an artist, so you know her house is beautiful,” he said.
The location and decades of name recognition within Indianola make it ideal for a local wishing to expand their connection to the community. But Baker also suggested, “I think it could be somebody out of town looking for the right space.”
He noted that while The Studio business could be run by the next owner, there were opportunities to lease the building to another company, or even turn the home into an AirBnB for additional income.
The carefully manicured outdoor space has proven popular for graduation and wedding photos. Inside the main building, The Studio features a small kitchen area, audiovisual equipment and a mirrored wall if a new resident decides to continue the dance classes.
Other ideas proposed by Baker include a daycare center, insurance agency, or an Etsy project ready for a larger footprint in a commercial environment Baker believes is healthy and growing.
“It’s doing very well. The city actually did some commercial beautification projects for places around the square to promote all the businesses. I love the property, and I want to find the right person for it,” he added.
The home is listed at $725,000 by Josh Baker of Iowa Realty Indianola. Contact him at 515-559-4103 for more information and a private showing.
Where: 104 W. First Ave., Indianola
Asking price: $725,000
Year built: 1920
Square footage: 2,465 square feet
Lot size: 0.26 acres
Richard Lane is a freelance writer for the Des Moines Register. If you have a home we should feature, reach out to Susan Stapleton at [email protected].
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