3875 SE Delaware Ave
Ankeny, IA 50021
Mills Fleet Farm: Ankeny, IA · Retail Property For Sale

The CBRE Net Lease Property Group is pleased to offer a 272,345-square-foot freestanding Mills Fleet Farm situated on 32.42 acres in Ankeny, Iowa (Population: 58,627), which is an affluent bedroom community located just 9 miles north of the Des Moines CBD (MSA Population: 622,899). The offering also includes an outparcel, which is occupied by a 4,299-square-foot convenience store with 12 gas pump islands and a 5,227-square-foot car wash with four separate stalls, both of which are owned and operated by Mills Fleet Farm. This location has a proven track record of success, with 2016 4-wall EBITDAR coverage of 3.5x and a rent to sale ratio of just 3.0%. In addition, the subject property is strategically positioned immediately adjacent to Sam' s Club with excellent access on SE Delaware Avenue (Traffic Count: 11,440 VPD) and visibility on I-35 (Traffic Count: 76,500 VPD), both of which provide direct access to the Des Moines CBD. Additionally, the site benefits from its position within the area' s primary retail and commercial corridor, with approximately 3.2 MSF of retail space, 11.3 MSF of industrial space and 3,019 multifamily units within a 3-mile radius.