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704 S Grand Ave 2,158 SF of Retail Space Available in Spencer, IA 51301
Sublease Highlights
- Public water and sewer connections already in place, supporting various retail and service uses.
- Three-sided ingress and egress create exceptional site maneuverability for vehicles and deliveries.
- Existing restaurant infrastructure and equipment available, reducing setup time for incoming tenants.
- Significant paved parking area with approximately 21,000 square feet providing easy access and customer convenience.
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 2,158 SF | Feb 2038 | $10.50 /SF/YR $0.88 /SF/MO $22,659 /YR $1,888 /MO | Triple Net (NNN) |
1st Floor
Set on 0.48 acres, the property features substantial off-street parking along with three-sided ingress and egress, making it highly convenient for customers and deliveries alike. The location’s easy connection to regional highways enhances accessibility for both local patrons and pass-through traffic, aligning with Spencer's role as a commercial hub in northwestern Iowa. With established nearby retail and service businesses and zoning conducive to commercial use, this site is suited for quick-service restaurants, retail conversions, or alternative uses pending local approvals.
- Sublease space available from current tenant
- Lease rate does not include utilities, property expenses or building services
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
Select Tenants at 704 S Grand Ave, Spencer, IA 51301
- Tenant
- Description
- US Locations
- Reach
- Hardee's
- Fast-food
- 1,919
- International
| Tenant | Description | US Locations | Reach |
| Hardee's | Fast-food | 1,919 | International |
Property Facts
| Total Space Available | 2,158 SF | Gross Leasable Area | 2,158 SF |
| Property Type | Retail | Year Built | 1973 |
| Property Subtype | Fast Food |
| Total Space Available | 2,158 SF |
| Property Type | Retail |
| Property Subtype | Fast Food |
| Gross Leasable Area | 2,158 SF |
| Year Built | 1973 |
About the Property
704 S Grand Ave in Spencer, Iowa is an improved commercial property originally built in 1973 and situated on approximately 0.48 acres. It lies at the intersection of U.S. Highways 18 and 71 and benefits from three-sided site access. Public utility connections are available, and the parcel’s frontage offers vehicular visibility from major thoroughfares with recorded average daily traffic counts near 14,700. The property includes a main structure formerly used as a restaurant and paved surface parking. Zoning is classified as C-2 Highway Commercial within Clay County, and the site is within a developed corridor featuring other retail and service establishments.
Nearby Major Retailers
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704 S Grand Ave
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