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Walmart Shadowed Center | Value-Add 830 S Oak St

9,569 SF 100% Leased Retail Building Iowa Falls, IA 50126 $1,294,000 ($135/SF) 8.24% Cap Rate

Mixed Use Properties Iowa Iowa Falls 830 S Oak St, Iowa Falls, IA 50126

Investment Highlights

  • Walmart Shadowed Center - Value Add
  • Dollar Tree Rent is Only $5.71 PSF
  • Large Lot at Approximately 2.33 Acres Providing More Potential Upside
  • Dollar Tree Recently Extended For Three years
  • Landlord & Dollar Tree Both Have 120 Day Termination Providing Substantial Upside
  • Roof Warranty Currently In Place Until 2033

Executive Summary

Marcus & Millichap is pleased to present this two-tenant value-add Walmart Shadowed Center. Dollar Tree just executed a three-year extension at a very low rent of $5.71 per square foot. Both Landlord and Dollar Tree have the right to terminate the lease with 120 day notice. This provides the Landlord the opportunity to have time to find a new long term tenant at market rent.
The other tenant, a tobacco business, is under lease for several more years.
The property is shadowed by Walmart and is in the immediate vicinity of Hy-Vee grocery as well as Hansen Family Hospital which is an affiliate Mercy One, Shoe Sensation and Kwik Trip.
The site has a larger than normal lot at 2.33 acres providing additional potential upside. The building is believed to be in excellent condition and is priced below replacement cost at $94 per square foot. In addition there is a roof warranty in place until 2033.

Data Room Click Here to Access

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
9,569 SF
Building Class
B
Year Built
2017
Price
$1,294,000
Price Per SF
$135
Cap Rate
8.24%
NOI
$106,642
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.09
Lot Size
2.33 AC
Zoning
Commercial
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PROPERTY TAXES

Parcel Number 8920-19-300-009 Improvements Assessment $1,000,000
Land Assessment $41,630 Total Assessment $1,041,630

PROPERTY TAXES

Parcel Number
8920-19-300-009
Land Assessment
$41,630
Improvements Assessment
$1,000,000
Total Assessment
$1,041,630
(507) 951-2960

Contact

  • Listing ID: 33564728

  • Date on Market: 10/18/2024

  • Last Updated:

  • Address: 830 S Oak St, Iowa Falls, IA 50126

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Walmart Shadowed Center | Value-Add | 830 S Oak St
(507) 951-2960 x

Walmart Shadowed Center | Value-Add | 830 S Oak St

Tom Gommels

(507) 951-2960

(507) 951-2960

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