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4515 Westdale Pkwy SW
Cedar Rapids, IA 52404
Boulder Tap House · 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 Boulder Tap House built in 2023 with 9.5 years remaining. The lease has four 5-year renewals with 10% increases for every option.
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 NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,500 SF
Year Built
2023
Price
$2,415,479
Price Per SF
$439.18
Cap Rate
7.30%
NOI
$176,330
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
1.37 AC
Zoning
S-MR - Suburban Mixed Use Regional Center
PROPERTY TAXES
| Parcel Number | 13364-76045-00000 | Improvements Assessment | $1,594,200 |
| Land Assessment | $196,000 | Total Assessment | $1,790,200 |
PROPERTY TAXES
Parcel Number
13364-76045-00000
Land Assessment
$196,000
Improvements Assessment
$1,594,200
Total Assessment
$1,790,200
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