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Kum & Go 1002 West St 2,944 SF Retail Building Grinnell, IA 50112 $2,424,622 ($823.58/SF) 5.95% Cap Rate
Investment Highlights
- 100% Bonus Depreciation
- Zero landlord responsibilities
- 15 Year Absolute Triple Net Lease from date of purchase
- Ideal property for 1031 exchange
- Corporate Lease with MAVERIK
- 7.5% rent increase effective every 5 years during initial term
Executive Summary
CBRE is pleased to offer for sale a 2,944 square foot freestanding retail property on 37,125 square feet of land which is net leased to Maverik for fifteen years.
Investment Summary
Price: $2,424,621.84
Cap Rate: 5.95%
Size: 2,944 SF (Bldg)
37,125 SF (Lot)
8.5 year remaining on lease
Investment Summary
Price: $2,424,621.84
Cap Rate: 5.95%
Size: 2,944 SF (Bldg)
37,125 SF (Lot)
8.5 year remaining on lease
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Convenience Store
Building Size
2,944 SF
Building Class
B
Year Built
2009
Price
$2,424,622
Price Per SF
$823.58
Cap Rate
5.95%
NOI
$144,265
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.85 AC
Opportunity Zone
Yes
Zoning
Commercial
Parking
16 Spaces (5.43 Spaces per 1,000 SF Leased)
Frontage
304’ on West St
Fairly walkable
50/100
Moderately drivable
70/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 180-3483100 | Improvements Assessment | $905,170 |
| Land Assessment | $254,930 | Total Assessment | $1,160,100 |
Property Taxes
Parcel Number
180-3483100
Land Assessment
$254,930
Improvements Assessment
$905,170
Total Assessment
$1,160,100
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Kum & Go | 1002 West St
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