Westland Mall 550 S Gear Ave
405,298 SF 100% Leased Retail Building West Burlington, IA 52655 $3,500,000 ($9/SF) 10.65% Cap Rate
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INVESTMENT HIGHLIGHTS
- Repositioning or redevelopment opportunity
- Value add high vacancy property with multiple opportunities
EXECUTIVE SUMMARY
Value add property. High vacancy property ready for retrofitting into data center, retailtainment, self storage, mixed used development. Inquire for more information.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
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Gross Rental Income |
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Other Income |
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Vacancy Loss |
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Effective Gross Income |
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Net Operating Income |
$99,999
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$9.99
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PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
405,298 SF
Building Class
B
Year Built
1977
Price
$3,500,000
Price Per SF
$9
Cap Rate
10.65%
NOI
$372,669
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.26
Lot Size
36.22 AC
Zoning
C-Commercial - Multiple.
Parking
2,120 Spaces (5.23 Spaces per 1,000 SF Leased)
AMENITIES
- Food Court
- Kiosk/Cart Space
- Enclosed Mall
NEARBY MAJOR RETAILERS
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PROPERTY TAXES
Parcel Numbers | Improvements Assessment | $1,366,700 | |
Land Assessment | $2,099,100 | Total Assessment | $3,465,800 |