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1118 S Clinton St 2,849 SF Retail Building Albia, IA 52531 $1,351,000 ($474.20/SF) 6.50% Cap Rate
Investment Highlights
- 3.5+ Years Remaining | Options To Extend | 10% Rental Increases | Strong Store Performance | #1 Store In Iowa
- S Clinton Street Frontage | Excellent Visibility & Access
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Established Retail Node | Strong Tenant Synergy
Executive Summary
• More than 3.5 years of primary lease term remaining with four (4) additional
5- year renewal options, providing stable in-place income with significant long-term extension potential
• Scheduled 10% rental increases at the commencement of each renewal option drive NOI growth and provide a built-in hedge against inflation
• This Hardee’s location generates approximately 200,000 annual visits, ranking in the 80th percentile nationally and #1 in Iowa among comparable Hardee’s locations according to Placer.ai
5- year renewal options, providing stable in-place income with significant long-term extension potential
• Scheduled 10% rental increases at the commencement of each renewal option drive NOI growth and provide a built-in hedge against inflation
• This Hardee’s location generates approximately 200,000 annual visits, ranking in the 80th percentile nationally and #1 in Iowa among comparable Hardee’s locations according to Placer.ai
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,849 SF
Building Class
B
Year Built
2010
Price
$1,351,000
Price Per SF
$474.20
Cap Rate
6.50%
NOI
$87,846
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.90 AC
Zoning
B-2 - Business
Parking
51 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
192’ on S Clinton
Amenities
- Pylon Sign
- Drive Thru
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 210-006-02-1000000 | Improvements Assessment | $675,980 |
| Land Assessment | $62,990 | Total Assessment | $738,970 |
Property Taxes
Parcel Number
210-006-02-1000000
Land Assessment
$62,990
Improvements Assessment
$675,980
Total Assessment
$738,970
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