22422 Highway 9
Cresco, IA 52136
Shopko Hometown · Retail Property For Sale

Marcus & Millichap is pleased to exclusively market for sale the subject single-tenant net-leased Shopko Hometown located in Cresco, Iowa. Built in 2010, the subject property consists of 31,500 square feet of building space and is strategically situated on a 3.04- acre parcel. The property sits just off Iowa Highway 9 which is the most northern of Iowa’s east-west highways, traversing the entire northern tier of counties and offers strong visibility and exposure to the vehicles that travel through each day. The property benefits from minimal local competition, with the nearest Shopko Hometown located over 30 miles away and Wal-Mart over 20 miles away. The Shopko Hometown has roughly 13 years remaining on an original 15-year lease, which commenced in 2016. The current rent is $175,000 is subject to increases every 5 years. In addition to the current lease term, the tenant has two, five-year tenant renewal options bringing the lease term remaining to roughly 23 years. Founded in 1962 and headquartered in Green Bay, Wisconsin, Shopko Stores Operating Co., LLC operates 363 stores in 24 states throughout the Central, Western and Pacific Northwest regions. In 2010, Shopko introduced a new retail concept to augment Shopko’s larger store format: Shopko Hometown. The Shopko Hometown retail format offers a differentiated and financially successful merchandising strategy combining pharmacy services and a comprehensive HBA (Health, Beauty & Accessories), household goods and dry grocery assortment with a broad and dynamic offering of strong national brands and high-value private label brands. Following its merger with Pamida in early 2012, Shopko acquired and converted over 170 stores and pharmacies to the Shopko brand.