4444 1st Ave NE - Auto Repair FOR SALE
Cedar Rapids, IA 52402 |
4444 1st Ave NE
Cedar Rapids, IA 52402
HIGHLIGHTS
- Firestone Complete Auto Care Absolute NNN Ground Lease with 6.25 Years Remaining in Cedar Rapids, IA
- 34 Years of Tenancy; Original 20-Year Lease Commenced in 1989; Tenant Previously Exercised Both Original Renewal Options with No Modification
- Strong Commitment to Site: In 2018, Tenant Extended for 10 Years at a 60% Increase in Rent with No Inducement from Landlord
- Below Market Rent of $12.12/SF and Low Price/SF of $202; Zero Landlord Responsibility – Absolute NNN Ground Lease Structure
- Corporately-Operated Store; Non-Franchised Business Model
- Outparcel to Lindale Mall – 700K SF Regional Mall Anchored by Von Maur w/ Well-Known Tenants Including Carter’s, Maurices, Express, Chipotle
FOR SALE DETAILS
PRICE
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CAP RATE
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% LEASED
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TENANCY
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BUILDING DETAILS
PROPERTY NAME
Abs NNN Ground Lease Corporate Firestone
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Auto Repair
ADD'L SUBTYPES
Freestanding
TOTAL BUILDING SIZE
6600
STORIES
1
YEAR BUILT
1989
SPRINKLERS
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PARKING SPACES
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LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
-
APN/PARCEL ID
14024-52005-00000
