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3475 Westdale Dr SW
Cedar Rapids, IA 52404
Burlington · Retail Property For Sale
EXECUTIVE SUMMARY
Cushman & Wakefield Iowa Commercial Advisors is pleased to offer to investors an excellent opportunity to purchase a stand-alone NNN Burlington Coat Factory. Originally a 15-year lease, with 6.5 years remaining, and a rental increase in 3 years of 10%.
Westdale is strategically located on Edgewood Road with seamless access from Highway 30 and Interstate I-380, giving investors the opportunity to purchase an infill shopping center in a growing and positive area of the Corridor.
Originally built in 1979, Westdale was originally comprised of a 900,000 SF traditional two-story enclosed Shopping Mall. In 2014, the mall went through a transformative redevelopment. Now boasting five major big box retail buildings and numerous development pads across 40 acres, Westdale is a vibrant hub of commerce and community. With a diverse tenant mix, including PetSmart, Ross Dress for Less, Michael’s, Burlington, JCPenney, GSA (VA Clinic) and more, the center is currently 100% occupied, drawing from local, regional, and national markets.
Westdale is strategically located on Edgewood Road with seamless access from Highway 30 and Interstate I-380, giving investors the opportunity to purchase an infill shopping center in a growing and positive area of the Corridor.
Originally built in 1979, Westdale was originally comprised of a 900,000 SF traditional two-story enclosed Shopping Mall. In 2014, the mall went through a transformative redevelopment. Now boasting five major big box retail buildings and numerous development pads across 40 acres, Westdale is a vibrant hub of commerce and community. With a diverse tenant mix, including PetSmart, Ross Dress for Less, Michael’s, Burlington, JCPenney, GSA (VA Clinic) and more, the center is currently 100% occupied, drawing from local, regional, and national markets.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
40,703 SF
Building Class
B
Year Built
2016
Price
$6,595,555
Price Per SF
$162.04
Cap Rate
6.75%
NOI
$445,200
Tenancy
Single
Building Height
1 Story
Building FAR
0.68
Lot Size
1.38 AC
Zoning
S-MR - Suburban Mixed Use Regional Center
PROPERTY TAXES
| Parcel Number | 13364-76020-00000 | Improvements Assessment | $3,450,000 |
| Land Assessment | $552,000 | Total Assessment | $4,002,000 |
PROPERTY TAXES
Parcel Number
13364-76020-00000
Land Assessment
$552,000
Improvements Assessment
$3,450,000
Total Assessment
$4,002,000
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