1300-1330 E University Ave
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1300-1330 E University Ave
13,833 SF Retail Building Des Moines, IA 50316 $3,658,824 ($264/SF) 8.50% Cap Rate
Investment Highlights
- Double Net Lease With Over 5 Years Remaining and Six, 5-Year Renewal Options
- Minimal Landlord Responsibilities
- Hard, Signalized Corner Location Within a Heavily Trafficked Corridor Near Downtown Des Moines
- No Rent Reduction During Recent Extension.
- Corporately Guaranteed Lease
- Situated Just off of Interstate 235, a Main Traffic Artery Into Downtown, Seeing 71,000+ Vehicles Per Day
Executive Summary
1999 Build-to-Suit for Walgreens | 13,833-SF Building on +/-2.09-AC Parcel
Property Facts
Sale Type
Investment
Sale Condition
Build to Suit
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,833 SF
Building Class
B
Year Built
1999
Price
$3,658,824
Price Per SF
$264
Cap Rate
8.50%
NOI
$311,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
2.09 AC
Zoning
C-1
Parking
102 Spaces (7.34 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Freeway Visibility
- Pylon Sign
- Signalized Intersection
- Drive Thru
Walk Score®
Very Walkable (74)
PROPERTY TAXES
| Parcel Number | 110-04526000000 | Improvements Assessment | $1,499,000 |
| Land Assessment | $751,000 | Total Assessment | $2,250,000 |
PROPERTY TAXES
Parcel Number
110-04526000000
Land Assessment
$751,000
Improvements Assessment
$1,499,000
Total Assessment
$2,250,000
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1300-1330 E University Ave
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