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301 W Bennett Ave 14,368 SF Retail Building Council Bluffs, IA 51503 $4,887,200 ($340.14/SF) 6.50% Cap Rate
Investment Highlights
- Corporate Guarantee – Rent is secured by Walgreens Corporate, providing investors with the backing of a nationally recognized, creditworthy tenant
- Rare Rental Increases – Unlike most Walgreens and CVS leases, which often feature flat rent, this agreement includes 5% increases every five years. Th
- Newly Developed Menards – Directly adjacent to the Walgreens is a ±43-AC Menards Superstore, completed in 2023. This major retail anchor generates sig
- Absolute NNN Lease – The property is structured as an absolute triple-net lease with zero landlord responsibilities. This makes it an ideal option for
- Excellent Visibility & Traffic Counts – Positioned on the hard corner of Madison Ave and Bennett Ave, the property offers excellent visibility and acc
- Strong Retail Corridor – The property benefits from a thriving retail environment, with nearby tenants including Menards, Chase Bank, Hy-Vee, Starbuck
Executive Summary
Broker of Record
Adam Marek
License # F03991000 (IA)
Pacific Realty Commercial, LLC
11516 Miracle Hills Dr. Ste #400 Omaha, NE 68154
(866) 889-0550
Adam Marek
License # F03991000 (IA)
Pacific Realty Commercial, LLC
11516 Miracle Hills Dr. Ste #400 Omaha, NE 68154
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,368 SF
Building Class
B
Year Built
2001
Price
$4,887,200
Price Per SF
$340.14
Cap Rate
6.50%
NOI
$317,668
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
1.66 AC
Zoning
C-2 - Commercial
Parking
48 Spaces (3.34 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Freeway Visibility
- Pylon Sign
- Signalized Intersection
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
Walgreens began in Chicago in 1901, after pharmacist Charles R. Walgreen Sr. purchased the drugstore where a pharmacy career began. The company grew from a neighborhood drugstore into a broad retail health business offering prescription services, health and wellness products, photo services, home delivery, specialty pharmacy, and virtual healthcare. Walgreens serves customers through a wide network of community pharmacies and digital platforms, with a focus on accessible medicine, everyday essentials, and healthcare support.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 7443-06-207-001 | Improvements Assessment | $1,852,300 |
| Land Assessment | $611,800 | Total Assessment | $2,464,100 |
Property Taxes
Parcel Number
7443-06-207-001
Land Assessment
$611,800
Improvements Assessment
$1,852,300
Total Assessment
$2,464,100
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301 W Bennett Ave
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