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1015 N 18th St
Centerville, IA 52544
Lake Center · Retail Property For Sale
Investment Highlights
- Tenants provide essential health services and entertainment to the region
- Upside through leasing vacant in-line retail and warehouse space
- NOI: ±$280,000 (±10% Cap Rate)
- Iowa Trust Savings ATM pad adds ancillary income
- Major capital improvements have already been completed within last 3 years: new roof, parking lot resurfacing, HVAC upgrades
Executive Summary
±38,800 SF multi-tenant retail center in Centerville, IA. ±78% occupancy with stable, long-term tenants including Fridley Theatres (20+yr presence), River Hills Health (15+yrs), Subway (since 2007).
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
38,826 SF
Building Class
C
Year Built
1975
Price
$2,795,000
Price Per SF
$71.99
Cap Rate
9.12%
NOI
$255,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.13
Lot Size
6.71 AC
Opportunity Zone
Yes
Zoning
Commercial
Property Taxes
| Parcel Number | 341011002000000 | Improvements Assessment | $1,193,030 |
| Land Assessment | $274,630 | Total Assessment | $1,467,660 |
Property Taxes
Parcel Number
341011002000000
Land Assessment
$274,630
Improvements Assessment
$1,193,030
Total Assessment
$1,467,660
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