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1617 S Monroe Ave 5,729 SF Retail Building Mason City, IA 50401 $1,653,840 ($288.68/SF)
Investment Highlights
- Long term lease with experienced operators
- Annual rent increases
- Zero landlord responsibilities
Executive Summary
This freestanding Pizza Ranch property in Mason City, Iowa offers a stable, long-term investment backed by a true triple-net lease with zero landlord responsibilities and 18 years remaining on the current term. The asset generates a current annual NOI of $108,199 with contractual 3% annual increases, resulting in a 10-year average NOI of $124,038. Operated by experienced Pizza Ranch franchisees with over 20 years in the system, the building includes a popular Fun Zone arcade and benefits from its location in a thriving community of 26,000+ residents.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,729 SF
Building Class
C
Year Built/Renovated
1973/2021
Price
$1,653,840
Price Per SF
$288.68
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
0.87 AC
Opportunity Zone
Yes
Amenities
- Restaurant
Fairly walkable
40/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 07-16-251-04-200 | Improvements Assessment | $755,020 |
| Land Assessment | $89,410 | Total Assessment | $844,430 |
Property Taxes
Parcel Number
07-16-251-04-200
Land Assessment
$89,410
Improvements Assessment
$755,020
Total Assessment
$844,430
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Contact the Sale Advisor
1617 S Monroe Ave