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High Traffic Opportunity with 6.7 CAP Rate! 320 HWY 71 S 1,952 SF Retail Building Arnolds Park, IA 51331 $649,900 ($332.94/SF) 6.70% Cap Rate
INVESTMENT HIGHLIGHTS
- Current Tenant, Giliberto's Taco Shop is a chain of 14 stores
- Glass garage door leading to an outdoor patio for additional seating
- Newly constructed modern retail/restaurant building
- Located directly across from Arnolds Amusement Park on US-HWY 71
EXECUTIVE SUMMARY
Long term lessee renewed 5 year extension to over 7.5 years with 10% increase! Newly constructed modern retail/restaurant building that features a drive-thru with 26 interior seating with a glass garage door leading to an outdoor patio for additional seating. Home of the Iowa Great Lakes, the property is conveniently located on US-HWY 71. The ideal location offers high car counts & is directly across from Arnolds Park Amusement Park! Potential for Kiosk Bank, DriveThru Pharmacy or Retail. Current tenant Giliberto's Taco Shop, one of 14 locations.
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
Ground Lease (Leasehold)
Property Type
Retail
Property Subtype
Restaurant
Building Size
1,952 SF
Building Class
B
Year Built
2020
Price
$649,900
Price Per SF
$332.94
Cap Rate
6.70%
NOI
$43,544
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
1.10 AC
Zoning
C - Commercial Zoning
Parking
16 Spaces (11.36 Spaces per 1,000 SF Leased)
Frontage
150’ on HWY 71
AMENITIES
- Drive Thru
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Giliberto's Mexican Taco Shop
- -
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
24 Hour Mexican Food in Arnolds Park Iowa
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Giliberto's Mexican Taco Shop | - | - | $9.99 | Lorem Ipsum | Jan 0000 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 07-30-406-005 | Improvements Assessment | $673,400 |
| Land Assessment | $288,800 | Total Assessment | $962,200 |
PROPERTY TAXES
Parcel Number
07-30-406-005
Land Assessment
$288,800
Improvements Assessment
$673,400
Total Assessment
$962,200
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High Traffic Opportunity with 6.7 CAP Rate! | 320 HWY 71 S
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