1500 Washington St
Pella, IA 50219
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Long-Term Lease – There are ± 19 years remaining on the original 20-year lease with four (4), 5-year options for the tenant to extend
- Absolute NNN Lease – Landlord has zero landlord responsibilities, the tenant takes care of insurance, real estate taxes, and maintenance
- Strong Retail Corridor – Tenants surrounding the property include Walmart Supercenter, Applebee’s, Arby’s, Super 8, McDonald's
- Strong Hedge Against Inflation – There are 7.50% increases in rent every 5 years, allowing properties to keep up with rising market rents
- Latest Prototype – Brand new 2019 construction
- Stop-and-Go Location – Burger King is conveniently located off Hwy 163 which sees over 10,000 cars in average daily traffic
PROPERTY FACTS
Property Type
Retail
Property Subtype
Restaurant
Building Size
2,950 SF
Building Class
B
Year Built
2019
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.30 AC
Zoning
C - Community commercial
Frontage
147’ on Washington Street
AMENITIES
- Drive Thru
PROPERTY TAXES
| Parcel Number | 1739801500 | Improvements Assessment | $1,331,100 |
| Land Assessment | $202,000 | Total Assessment | $1,533,100 |
