1255 Theatre Dr - Retail FOR SALE


Ottumwa, IA 52501
$1,999,999 USD
619-489-9004
1255 Theatre Dr, Ottumwa, IA for Sale
$1,999,999 USD
Retail - FOR SALE
1/9
null | 7.02% Cap Rate

1255 Theatre Dr
Ottumwa, IA 52501


HIGHLIGHTS

  • Corporate Signature | National Brands | Options to Extend |
  • NNN Leases | Fee Simple Ownership | Minimal Expense Leakage
  • Retail Dense Intersection | Across from Harbor Freight and Hobby Lobby-Anchored Retail Centers | 26,500 Combined VPD
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

SRS Real Estate Partners, LLC in collaboration with Gateway Real Estate Advisors is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN-leased retail strip featuring Aspen Dental and Jersey Mike’s. Both tenants are nationally recognized brands with an average remaining lease term of over five (5) years and multiple extension options, demonstrating long-term commitment to the site and supporting durable cash flow. Jersey Mike’s also features a rent increase after year five, and its three (5-year) renewal options are at fixed increases, providing built-in income growth potential and future upside. Both leases are triple-net, with tenants reimbursing their pro rata share of CAM, taxes, and insurance, helping minimize expense leakage for an investor with the landlord generally only responsible for common areas, landscaping, and parking.

FOR SALE DETAILS

PRICE

$1,999,999 USD

PRICE/SF

$394 USD /SF

CAP RATE

7.02%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Aspen Dental & Jersey Mike's | Corp NNN

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Freestanding, Restaurant, Medical

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2013

SPRINKLERS

-

PARKING SPACES

58

LAND DETAILS

LAND ACRES

1.1 AC

LAND SF

47,916 SF

ZONING

CS-1

APN/PARCEL ID

007417850001000

ASK ABOUT THIS PROPERTY

Chad LieberSRS Real Estate PartnersMore Info
619-489-9004

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Chad LieberSRS Real Estate PartnersMore Info
619-489-9004

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