327 Story St - Retail FOR SALE


Boone, IA 50036
$1,200,000 USD
714-875-2400
327 Story St, Boone, IA for Sale
$1,200,000 USD
Retail - FOR SALE
1/12
null | 6.25% Cap Rate

327 Story St
Boone, IA 50036


HIGHLIGHTS

  • LONG TERM & BRAND-NEW LEASE – 10-year lease will commence at the COE, providing a long term and stable investment for a new investor.
  • ABSOLUTE NNN LEASE – Absolute NNN lease requires no landlord responsibilities and management headaches, ideal for an out-of-area investor.
  • RENTAL INCREASES – There are 2% rental increases annually, providing an investor a hedge against inflation.
  • FRANCHISE GUARANTEE – The lease is guaranteed by the Franchisee, a strong and growing 13-unit operator looking to expand to more locations.
  • MARKET DOMINANT COFFEE CHAIN – Scooter’s Coffee has been in business for more than 20 years and operates 400+ locations across 26 states.
  • HIGH TRAFFIC AREA – The subject property is situated on a large corner lot and has excellent visibility along 4th Street with heavy vehicle traffic.

OVERVIEW

Prime Net Lease is pleased to offer the opportunity to acquire the fee simple interest in a recently built Scooter’s Coffee. The subject property was originally built in 2019. Due to its excellent location, the franchisee of Scooter’s Coffee decided to build the structure and offer the long term 10-year sale-leaseback. The brand new 10-year lease will begin at the COE. This absolute NNN lease has 2% rental increases annually and grants the Tenant four successive options to extend the lease. Each option is for five years and includes the aforementioned 2% annual rental increases. Additionally, the annual rent is set at a healthy and below market rent-to-sales ratio (contact agent). The Property has excellent visibility and is conveniently situated on a large corner lot along 4th Street and Story Street. 4th Street is a main corridor in the area and sees heavy traffic on a daily basis. Nationally recognized tenants such as Walgreens, Subway, Taco John's, Circle K, U.S Bank, Starbucks, Dollar General, and McDonald's surround the property, further driving consumers to the area. This specific location offers a brand new 10-year lease, excellent corner lot visibility, franchise guarantee, and zero landlord responsibility. Scooter’s Coffee, headquartered in Omaha, NE has close to 500 locations across 26 states. Founded in 1998, Scooter’s Coffee now employs over 110,000 people across its many locations.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$2,206 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Scooter's Coffee | 6.25% CAP | 10 YEAR LEASE

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Fast Food, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2019

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.49 AC

LAND SF

21,344 SF

ZONING

INC

APN/PARCEL ID

088426281382049

ASK ABOUT THIS PROPERTY

Paul MatusikPrime Net LeaseMore Info
714-875-2400

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Paul MatusikPrime Net LeaseMore Info
714-875-2400

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