1810 1st Ave E 17,920 SF Retail Building Newton, IA 50208 $1,225,000 ($68.36/SF) 9% Cap Rate

CBRE is pleased to present the opportunity to acquire newly converted Climate-Controlled Storage and Retail occupied facility in Newton, Iowa. This 17,824 SF standalone building was purchased in 2021 for a full rehab partitioning 6,000 SF retail space, from the remaining 17,824 SF built out as indoor climate-controlled storage units. The retail space is occupied on a Net lease by The WELL Thrift Store which is a growing consignment retailer with 5 locations in Central Iowa. The storage component consists of 62 expertly designed interior storage units ranging from 80 to 180 square feet completed in January 2023. There is a low supply of CC storage units in the market and the demand was evident by stabilization early into year one and maintained excellent historical occupancy. This real estate venture offers an investor a secure and successful multi-use revenue stream with significant rental income appreciation with limited expense with the Net lease and rebated property taxes.