830 S Oak St - Storefront Retail/Office FOR SALE


Iowa Falls, IA 50126
$1,294,000 USD
507-951-2960
830 S Oak St, Iowa Falls, IA for Sale
$1,294,000 USD
Storefront Retail/Office - FOR SALE
1/1
null | 8.24% Cap Rate

830 S Oak St
Iowa Falls, IA 50126


HIGHLIGHTS

  • Walmart Shadowed Center - Value Add
  • Dollar Tree Recently Extended For Three years
  • Dollar Tree Rent is Only $5.71 PSF
  • Landlord & Dollar Tree Both Have 120 Day Termination Providing Substantial Upside
  • Large Lot at Approximately 2.33 Acres Providing More Potential Upside
  • Roof Warranty Currently In Place Until 2033

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,294,000 USD

PRICE/SF

$135 USD /SF

CAP RATE

8.24%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walmart Shadowed Center | Value-Add

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2017

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.33 AC

LAND SF

101,495 SF

ZONING

Commercial

APN/PARCEL ID

8920-19-300-009

ASK ABOUT THIS PROPERTY

Tom GommelsMarcus & MillichapMore Info
507-951-2960

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Tom GommelsMarcus & MillichapMore Info
507-951-2960

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