327 Story St
Boone, IA 50036
Drive Thru Coffee | 6.25% CAP | 10 YEAR LEASE · Land For Sale
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0.49 AC
Investment Highlights
- LONG TERM & BRAND-NEW LEASE – 10-year lease will commence at the COE, providing a long term and stable investment for a new investor.
- RENTAL INCREASES – There are 2% rental increases annually, providing an investor a hedge against inflation.
- MARKET DOMINANT COFFEE CHAIN – Scooter’s Coffee has been in business for more than 20 years and operates 400+ locations across 26 states.
- ABSOLUTE NNN LEASE – Absolute NNN lease requires no landlord responsibilities and management headaches, ideal for an out-of-area investor.
- FRANCHISE GUARANTEE – The lease is guaranteed by the Franchisee, a strong and growing 13-unit operator looking to expand to more locations.
- HIGH TRAFFIC AREA – The subject property is situated on a large corner lot and has excellent visibility with heavy vehicle traffic.
Property Facts
| Property Type | Land | Proposed Use | Retail |
| Property Subtype | Commercial | Total Lot Size | 0.49 AC |
| Zoning | INC | ||
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Retail |
| Total Lot Size | 0.49 AC |
| Zoning | INC |
Description
Prime Net Lease is pleased to offer the opportunity to acquire the fee simple interest in a recently built Scooter’s Coffee. The subject property was originally built in 2019. Due to its excellent location, the franchisee of Scooter’s Coffee decided to build the structure and offer the long term 10-year sale-leaseback. The brand new 10-year lease will begin at the COE. This absolute NNN lease has 2% rental increases annually and grants the Tenant four successive options to extend the lease. Each option is for five years and includes the aforementioned 2% annual rental increases. Additionally, the annual rent is set at a healthy and below market rent-to-sales ratio (contact agent). The Property has excellent visibility and is conveniently situated on a large corner lot along 4th Street and Story Street. 4th Street is a main corridor in the area and sees heavy traffic on a daily basis. Nationally recognized tenants such as Walgreens, Subway, Taco John's, Circle K, U.S Bank, Starbucks, Dollar General, and McDonald's surround the property, further driving consumers to the area. This specific location offers a brand new 10-year lease, excellent corner lot visibility, franchise guarantee, and zero landlord responsibility. Scooter’s Coffee, headquartered in Omaha, NE has close to 500 locations across 26 states. Founded in 1998, Scooter’s Coffee now employs over 110,000 people across its many locations.
Property Taxes
| Parcel Number | 088426281382049 | Improvements Assessment | $517,670 |
| Land Assessment | $101,760 | Total Assessment | $619,430 |
Property Taxes
