Rent-A-Center 1220 Main St 23,394 SF 100% Leased Retail Building Keokuk, IA 52632 $850,000 ($36.33/SF) 12.36% Cap Rate

**Prime Investment Opportunity on Main Street in Keokuk, IA**
This well-maintained retail strip center at 1220 Main Street in Keokuk, Iowa, offers a solid investment with substantial growth potential. Boasting 26,200 square feet across three units, the property includes two stable, long-term tenants, Goodwill Industries and Rent-A-Center, generating a total NOI of $105,152. There’s an opportunity to further increase cash flow by pushing rents up to an attractive $8 per square foot. Projected stabilization with market-adjusted rents could increase the NOI to an estimated $137,000, providing a strong upside for investors.
Key property highlights:
- **Three units** totaling 26,200 square feet, with established tenants.
- **Recent renovations** in 2015, a solid roof, updated mechanicals, and a recently resurfaced parking lot with ample parking (144 spaces).
- **Functional design** with 13'8" ceiling heights, three bay doors, and flexible layout options, making it adaptable to various retail or service-based tenants.
This location benefits from excellent visibility on Main Street, which serves as Keokuk’s main commercial thoroughfare and also functions as Highways 218 and 61. With an average of 12,100 vehicles passing daily, the property enjoys strong exposure and accessibility from both local and interstate traffic. Positioned across from Walgreens and blocks from Highway 136, this location draws customers from Iowa, Illinois, and Missouri, enhancing its appeal as a regional shopping destination.
As an investment property, this retail strip center presents a unique combination of stability, growth potential, and strategic location in Keokuk, the primary economic hub of Lee County. Don't miss the opportunity to acquire a property with established tenants, visible improvements, and substantial upside through lease adjustments.