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- LoopNet Team
166-180 Collins Rd NE
Cedar Rapids, IA 52402
Collins Crossing · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- PROMINENT RETAIL LOCATION
- RECENT LEASING VELOCITY
- LEVERAGED RETURNS POTENTIAL
- STABLE CASH FLOW
- STRONG DEMOGRAPHICS WITH SOLID GROWTH
PROPERTY FACTS
ABOUT 166-180 COLLINS RD NE , CEDAR RAPIDS, IA 52402
Collins Crossing is 95% leased to an array of national category leaders including Aldi, Hobby Lobby, HomeGoods, Five Below, Shoe Carnival, and Wendy’s. Together these six tenants account for 90% of the Shopping Center GLA and 94.2% of gross income with an average weighted lease term of 7.2 years. The remainder of the space is leased to a solid mix of national and local retailers including Great Clips, Firehouse Subs, and Video Games, Etc. Collins Crossing has experienced strong leasing velocity with the recent addition of Aldi, Five Below, and Great Clips. Aldi and Five Below have fresh ten-year leases through 2029 and Great Clips new five-year lease expires in 2024. Firehouse Subs recently exercised its option through 2024. Anchor tenant rent escalations result in strong NOI growth overtime and a CAGR of 2.4%.
PROPERTY TAXES
| Parcel Number | 14021-52002-00000 | Improvements Assessment | $8,289,800 |
| Land Assessment | $2,620,000 | Total Assessment | $10,909,800 |
PROPERTY TAXES
