3219 8th St SW
Altoona, IA 50009
Starbucks & Heartland Dental Strip Center · Retail Property For Sale

The offering provides an opportunity to acquire a premier 100% occupied strip center in Altoona, IA. The three-tenant property is anchored by Starbucks and features a strong tenant mix including Verizon and Heartland Dental (dba Prairie View Family Dental), providing security and diversity to the income stream. Starbucks is on a corporate lease with roughly 5 years remaining on its initial lease term. Heartland Dental is the largest dental support network in the U.S. with $1 billion in annual revenue. The lease includes rare, 3% annual rent escalations. All three tenants have options to extend at increased rents. The property has excellent access and visibility at the northeast corner of Altoona’s most prominent retail intersection, which is anchored by Target and Lowe’s Home Improvement at the southwest corner and Walmart Supercenter at the northwest corner. The regional draw of these daily needs retailers creates strong traffic that greatly benefits the subject property. Altoona is an affluent suburb within the Des Moines MSA. Within a 1-mile radius there is an average household income of over $89,000. The city serves as a regional draw for Central Iowa, as it features two major amusement parks, a casino, race track, and the Des Moines Outlet Shops.