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U.S. Post Office
223 Main Street, Doon, IA 51235
Doon Post Office
N/A
1,602 SF
Retail
Post Office
Investment
7%
Single
2000
0.23 AC
-
Last Verified 8/28/2003
Listing ID 13707135
Highlights
Government Guaranteed Lease for remaining 17 years- 7% Return for extremely secure investment
- Brick Exterior with Pitched, Shingled Roof
- Newly Constructed (2000), 1,602 sq.ft. Post Office
- Ease of management for owner
- Current Moratorium on New Post Office Development
Description
The subject properyt is a 1,602 sf building fully leased to the USPS for an initial 20 yr term, with 4 x 5-yr optis at fixed rental increases. The landlord is responsible for insurance and full maintenance. A $0.50 reserve has been taken out for maintenance. To date, no maintenance has been required of seller. Seller will also provide a 3-year service contract free of charge to buyer.
Doon, IA is a small town in northwestern Iowa, not far from Sioux Falls. It is approximately 25 miles south of I-90, and 25-30 miles east of I-29.
Map of 223 Main Street, Doon, IA 51235
Created 6/13/2003
Additional Information for 223 Main Street, Doon, IA 51235
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-BSO