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6200 University Ave 6,580 SF Retail Building Cedar Falls, IA 50613 $998,228 ($151.71/SF) 6.35% Cap Rate
Investment Highlights
- NNN lease structure with tenant responsible for roof, parking lot, HVAC, taxes, insurance, and maintenance
- Located within Cedar Falls' dominant retail corridor anchored by major national retailers
- Major intersection location with combined traffic count of 42,000 cars per day
- Brand new renewal exercised in April 2026 bringing remaining lease term to slightly more than 5 years
- Within 2 miles of University of Northern Iowa with approximately 10,000 students
- Advance Auto Parts operates more than 4,000 locations across North America
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
6,580 SF
Building Class
C
Year Built
1969
Price
$998,228
Price Per SF
$151.71
Cap Rate
6.35%
NOI
$63,387
Tenancy
Single
Building Height
1 Story
Building FAR
0.35
Lot Size
0.43 AC
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
Advance Auto Parts began in 1932 when Arthur Taubman acquired Advance Stores in Virginia, and the business later developed into a publicly traded automotive aftermarket retailer. The company serves professional installers and do-it-yourself customers through retail stores, online shopping, and customer support services, with offerings that include replacement parts, accessories, batteries, and maintenance items. Advance Auto Parts also operates the Carquest brand and maintains a broad North American presence that includes the United States, Canada, Puerto Rico, and the U.S. Virgin Islands.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 8913-18-355-005 | Improvements Assessment | $544,040 |
| Land Assessment | $376,000 | Total Assessment | $920,040 |
Property Taxes
Parcel Number
8913-18-355-005
Land Assessment
$376,000
Improvements Assessment
$544,040
Total Assessment
$920,040
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