4650 Cross Point Blvd NE - Freestanding FOR SALE
Cedar Rapids, IA 52411 |
$34,552,600 USD
515-865-2985
4650 Cross Point Blvd NE
Cedar Rapids, IA 52411
HIGHLIGHTS
- This Cedar Rapids location is one of six Fleet Farm stores in Iowa with the closest store being in Cedar Falls.
- Positioned at the intersection of Collins Road (11,750 VPD) and Edgewood Road NE (12,900 VPD), where it is 1,500 feet south of Blairs Ferry Road NE.
- There are 9.2 MSF of retail, 11.1 MSF of office, 10.3 MSF of industrial, and 12,400+ multifamily units within a 5-mile radius.
- Linn County is home to over 1,400 acres of farmland, and its top crops include corn, soybeans, and hay (Target Market)
OVERVIEW
CBRE is pleased to exclusively offer for sale the 189,349 SF Fleet Farm store and 7,173 SF fuel center-convenience store and car wash situated on 20.9 total acres in Cedar Rapids, IA (MSA population: 275K+). Built in 2019, Fleet Farm’s net lease features ±14.5 years of term remaining with eight, 5-year renewal options. Rent increases by 2.5% annually through 2028 then by 1.0% annually (starting in 2029) for the remainder of the term and options.
FOR SALE DETAILS
PRICE
$34,552,600 USD
PRICE/SF
$176 USD /SF
CAP RATE
7.45%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Fleet Farm: Cedar Rapids, IA
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
ADD'L SUBTYPES
Convenience Store, Service Station, Storefront
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2019
SPRINKLERS
-
PARKING SPACES
637
LAND DETAILS
LAND ACRES
20.9 AC
LAND SF
910,404 SF
ZONING
-
APN/PARCEL ID
14061-52007-00000
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515-865-2985
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515-865-2985
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