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Aspen Dental & Jersey Mike's | Corp NNN 1255 Theatre Dr 5,074 SF 100% Leased Retail Building Ottumwa, IA 52501 $1,999,999 ($394.17/SF) 7.02% Cap Rate
Investment Highlights
- Corporate Signature | National Brands | Options to Extend |
- Retail Dense Intersection | Across from Harbor Freight and Hobby Lobby-Anchored Retail Centers | 26,500 Combined VPD
- NNN Leases | Fee Simple Ownership | Minimal Expense Leakage
- Strong Demographics In 5-Mile Trade Area
Executive Summary
SRS Real Estate Partners, LLC in collaboration with Gateway Real Estate Advisors is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN-leased retail strip featuring Aspen Dental and Jersey Mike’s. Both tenants are nationally recognized brands with an average remaining lease term of over five (5) years and multiple extension options, demonstrating long-term commitment to the site and supporting durable cash flow. Jersey Mike’s also features a rent increase after year five, and its three (5-year) renewal options are at fixed increases, providing built-in income growth potential and future upside. Both leases are triple-net, with tenants reimbursing their pro rata share of CAM, taxes, and insurance, helping minimize expense leakage for an investor with the landlord generally only responsible for common areas, landscaping, and parking.
Property Facts
Sale Type
Investment NNN
Property Type
Building Size
5,074 SF
Building Class
B
Year Built
2013
Price
$1,999,999
Price Per SF
$394.17
Cap Rate
7.02%
NOI
$140,497
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.11
Lot Size
1.10 AC
Zoning
CS-1 - Commercial Shopping Center
Parking
58 Spaces (11.43 Spaces per 1,000 SF Leased)
Frontage
623’ on Vaughn Drive
Amenities
- Corner Lot
- Dedicated Turn Lane
- Restaurant
- Signage
- Signalized Intersection
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 007417850001000 | Improvements Assessment | $1,332,780 |
| Land Assessment | $262,500 | Total Assessment | $1,595,280 |
Property Taxes
Parcel Number
007417850001000
Land Assessment
$262,500
Improvements Assessment
$1,332,780
Total Assessment
$1,595,280
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Aspen Dental & Jersey Mike's | Corp NNN | 1255 Theatre Dr
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