Marcus & Millichap is pleased to present this two-tenant value-add Walmart Shadowed Center. Dollar Tree just executed a three-year extension at a very low rent of $5.71 per square foot. Both Landlord and Dollar Tree have the right to terminate the lease with 120 day notice. This provides the Landlord the opportunity to have time to find a new long term tenant at market rent.
The other tenant, a tobacco business, is under lease for several more years.
The property is shadowed by Walmart and is in the immediate vicinity of Hy-Vee grocery as well as Hansen Family Hospital which is an affiliate Mercy One, Shoe Sensation and Kwik Trip.
The site has a larger than normal lot at 2.33 acres providing additional potential upside. The building is believed to be in excellent condition and is priced below replacement cost at $94 per square foot. In addition there is a roof warranty in place until 2033.