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5750 C Ave NE
Cedar Rapids, IA 52402
Walgreens · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Long-Term, Absolute Net Walgreens Lease with Predictable Cash Flow
- Long Operating History – Great Reported Sales
- Fantastic Location within Cedar Rapids in a Thriving Community
EXECUTIVE SUMMARY
Northmarq is pleased to offer for sale to qualified investors the opportunity to purchase a fee simple interest in the Walgreens located at 5750 C Ave NE in Cedar Rapids, Iowa (the “Property”). The Property consists of a 14,820-square-foot freestanding retail building, on a 2.18-acre parcel of land. Walgreens is operating under the original 25-year absolute net lease with zero landlord responsibilities. The lease has more than 9 years of base term remaining, along with options that permit Walgreens to occupy the Property until 2084. See lease abstract for full details.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,820 SF
Building Class
B
Year Built
2009
Price
$4,450,000
Price Per SF
$300.27
Cap Rate
8%
NOI
$356,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
2.18 AC
Zoning
202 - Retail Trade
Parking
58 Spaces (4.6 Spaces per 1,000 SF Leased)
AMENITIES
- Pylon Sign
- Signage
- Drive Thru
PROPERTY TAXES
| Parcel Number | 14022-27030-00000 | Improvements Assessment | $1,353,600 |
| Land Assessment | $672,500 | Total Assessment | $2,026,100 |
PROPERTY TAXES
Parcel Number
14022-27030-00000
Land Assessment
$672,500
Improvements Assessment
$1,353,600
Total Assessment
$2,026,100
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