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1065-1067 N Center Point Rd 9,045 SF 100% Leased Office Building Hiawatha, IA 52233 $1,495,000 ($165.28/SF) 7.52% Cap Rate
Investment Highlights
- NNN leases
- Brick construction
- Proximity to I-380
Executive Summary
Outstanding investment opportunity at 1065-1067 N Center Point Road, Hiawatha, IA. This 9,045 SF multi-tenant building is 100% occupied by high-quality tenants on NNN leases with annual rent escalations, delivering secure, predictable cash flow with NOI of $112,476 — a 7.5% cap rate at the offering price of $1,495,000. The modern, masonry building has been fully remodeled in recent years and is very well maintained. It offers great access to I-380, ideally positioned near the intersection of North Center Point Road and Boyson Road. This asset combines strong tenancy, prime location, and long-term stability — an excellent addition to any investment portfolio.
Property Facts
Sale Type
Investment NNN
Property Type
Office
Building Size
9,045 SF
Building Class
B
Year Built
2005
Price
$1,495,000
Price Per SF
$165.28
Cap Rate
7.52%
NOI
$112,476
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
9,045 SF
Building FAR
0.33
Lot Size
0.63 AC
Zoning
C-3 - Commercial
Parking
31 Spaces (3.43 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Air Conditioning
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 11321-26011-00000 | Improvements Assessment | $1,078,000 |
| Land Assessment | $245,700 | Total Assessment | $1,323,700 |
Property Taxes
Parcel Number
11321-26011-00000
Land Assessment
$245,700
Improvements Assessment
$1,078,000
Total Assessment
$1,323,700
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