1406 S Gilbert St - Restaurant FOR SALE


Iowa City, IA 52240- South Iowa City
$2,304,000 USD
714-878-6004
1406 S Gilbert St, Iowa City, IA for Sale
$2,304,000 USD
Restaurant - FOR SALE
1/6
null | 6.5% Cap Rate

1406 S Gilbert St
Iowa City, IA 52240
South Iowa City


HIGHLIGHTS

  • New 10-Year Lease | Annual Increases | Premier Tap House Concept
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Excellent Visibility on US Hwy 6 (27K+ VPD) | National Retailers
  • Strong Demographics In 5-Mile Trade Area | University of Iowa

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 an absolute NNN, Boulder Tap House investment property located in Iowa City, Iowa. The tenant recently signed a brand new 10 year lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term and each option period, hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. Boulder Tap House is a growing Midwestern craft burger and beer concept with 11+ locations across Minnesota, Iowa, Wisconsin, and North Dakota, and more.

FOR SALE DETAILS

PRICE

$2,304,000 USD

PRICE/SF

$415 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Boulder Tap House

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2017

SPRINKLERS

-

PARKING SPACES

69

LAND DETAILS

LAND ACRES

0.88 AC

LAND SF

38,535 SF

ZONING

CC-2

APN/PARCEL ID

1015392002

ASK ABOUT THIS PROPERTY

Jan Niklas CartusSRS National Net LeaseMore Info
714-878-6004

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Jan Niklas CartusSRS National Net LeaseMore Info
714-878-6004

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