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Boulder Tap House 1406 S Gilbert St 5,546 SF Retail Building Iowa City, IA 52240 $2,304,000 ($415.43/SF) 6.50% Cap Rate
Investment Highlights
- New 10-Year Lease | Annual Increases | Premier Tap House Concept
- Excellent Visibility on US Hwy 6 (27K+ VPD) | National Retailers
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area | University of Iowa
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 an absolute NNN, Boulder Tap House investment property located in Iowa City, Iowa. The tenant recently signed a brand new 10 year lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term and each option period, hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. Boulder Tap House is a growing Midwestern craft burger and beer concept with 11+ locations across Minnesota, Iowa, Wisconsin, and North Dakota, and more.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Building Size
5,546 SF
Building Class
B
Year Built/Renovated
2017/2026
Price
$2,304,000
Price Per SF
$415.43
Cap Rate
6.50%
NOI
$149,784
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
0.88 AC
Zoning
CC-2 - Community Commercial
Parking
69 Spaces (12.44 Spaces per 1,000 SF Leased)
Amenities
- Corner Lot
- Pylon Sign
- Restaurant
- Signalized Intersection
Moderately walkable
70/100
Moderately drivable
70/100
Good public transit
60/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 1015392002 | Improvements Assessment | $1,286,330 |
| Land Assessment | $418,000 | Total Assessment | $1,704,330 |
Property Taxes
Parcel Number
1015392002
Land Assessment
$418,000
Improvements Assessment
$1,286,330
Total Assessment
$1,704,330
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Boulder Tap House | 1406 S Gilbert St
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