1431 Coral Ridge Ave - Storefront FOR SALE


Coralville, IA 52241
$7,208,000 USD
630-573-7015
1431 Coral Ridge Ave, Coralville, IA for Sale
$7,208,000 USD
Storefront - FOR SALE
1/5
null | 7.25% Cap Rate

1431 Coral Ridge Ave
Coralville, IA 52241


HIGHLIGHTS

  • LONG-TERM OPERATING HISTORY, No Options Remaining.
  • IVESTMENT GRADE TENANCY: Best Buy is rated “BBB+/Stable”
  • NATIONAL TENANT MIX: Best Buy anchors the Coral Ridge Mall, which has over 100 specialty shops, sees over 7.4 million annual visits
  • EXPANSIVE TRADE AREA WITH STRONG DEMOGRAPHIC MAKEUP:
  • EXCELLENT RETAIL CORRIDOR: The Coralville regional retail node is the only retail node serving the area within 20 miles.
  • HIGH TRAFFIC LOCATION: The site anchors the Coral Ridge Mall, which is strategically located just off the heavily trafficked I80 & I380 interchange.

OVERVIEW

CBRE is pleased to present the opportunity to acquire a 100% fee interest in a 38,007 square foot Best Buy located in Coralville, Iowa, six miles outside of Iowa City, home to the University of Iowa. The site anchors Coral Ridge Mall, which is strategically located just off the heavily trafficked Interstate-80 and Interstate-380 interchange (99,000+ VPD). Best Buy has been at this location since 1998 and exercised its THIRD and FINAL option through January 2029, demonstrating its commitment to the site and desire to be in the market. Founded in 1966 and headquartered in Richfield, MN, Best Buy Co., Inc. (NYSE: BBY) is a retailer of consumer electronics, home office products, entertainment software, appliances, and related services in more than 1,000 stores and with about 100,000 employees in the United States and Canada. Best Buy is ranked #68 on the 2022 Fortune 500 List. The company had 2024 revenue of $43.5 billion.

FOR SALE DETAILS

PRICE

$7,208,000 USD

PRICE/SF

$190 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Best Buy

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

441

LAND DETAILS

LAND ACRES

5.74 AC

LAND SF

250,034 SF

ZONING

Commercial

APN/PARCEL ID

0636402002

ASK ABOUT THIS PROPERTY

630-573-7015

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

630-573-7015

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.