122 N Main St - Retail FOR SALE


Monticello, IA 52310
$5,638,000 USD
949-244-6644
122 N Main St, Monticello, IA for Sale
$5,638,000 USD
Retail - FOR SALE
1/7
null | 6.85% Cap Rate

122 N Main St
Monticello, IA 52310


HIGHLIGHTS

  • Single-Tenant Net Lease Offering
  • Parent Company - Hy-Vee
  • 10.8 Years of Firm Term Remaining
  • 6 (5-Year) Options

OVERVIEW

CORPORATELY GUARANTEED LEASE WITH HY-VEE, INC. | DOMINANT REGIONAL GROCER | 300+ UNIT OPERATOR IN THE MIDWEST | OVER $13 BILLION IN SALES LONG-TERM 15-YEAR ORIGINAL COMMITMENT | 11 YEARS OF PRIMARY TERM REMAINING | 5.00% RENTAL INCREASES AT EACH OPTION STARTING WITH OPTION 2 | 6 (5-YEAR) OPTIONS | EXTREMELY PASSIVE ABSOLUTE NNN LEASE LOCATED AT THE INTERSECTION OF E 1ST STREET & N MAIN STREET (11,078 VPD) | STRONG VISIBILITY & ACCESS | LIMITED COMPETITION & HIGH BARRIERS TO ENTRY CEDAR RAPIDS MSA LOCATION | STABLE POPULATION BASE | PRIMARY RETAIL DESTINATION FOR SURROUNDING RURAL COMMUNITIES | CLOSE PROXIMITY TO MAJOR EMPLOYERS, HOUSING & ENTERTAINMENT COMPLEXES

FOR SALE DETAILS

PRICE

$5,638,000 USD

PRICE/SF

$205 USD /SF

CAP RATE

6.85%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2022

SPRINKLERS

-

PARKING SPACES

126

LAND DETAILS

LAND ACRES

3.49 AC

LAND SF

152,125 SF

ZONING

-

APN/PARCEL ID

0222378011

ASK ABOUT THIS PROPERTY

Matt BerresNewmarkMore Info
949-244-6644

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Matt BerresNewmarkMore Info
949-244-6644

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.