505 2nd Ave - Retail FOR SALE


Sheldon, IA 51201
$727,000 USD
612-396-7723
505 2nd Ave, Sheldon, IA for Sale
$727,000 USD
Retail - FOR SALE
1/6
null | 7% Cap Rate

505 2nd Ave
Sheldon, IA 51201


HIGHLIGHTS

  • The property features over 14 years remaining on an absolute NNN lease, providing a completely hands-off investment for the landlord
  • Hardee's is one of the only national fast food retailers serving the city of Sheldon, creating a protected market position
  • Managed by Superior Star LLC, an experienced operator with a proven portfolio of 93+ Hardee's restaurants
  • The property offers easy ingress and egress from Highway 18, the main east-west thoroughfare through Sheldon
  • High visibility location at the four-way intersection of Highway 18 and 320th Street ensures maximum exposure to both local and pass-through traffic
  • Just one mile from Sheldon Public Schools, generating consistent daily traffic from students, staff, and families

OVERVIEW

Jones Lang LaSalle Americas, Inc. ("JLL"), is pleased to exclusively offer for sale the fee-simple interest in Hardee's located at 505 2nd Ave in Sheldon, IA. This 3,434 SF quick-service restaurant sits on 0.82 acres and is secured by a long-term absolute NNN lease extending through August 2040. This investment opportunity offers investors a truly passive ownership experience through its absolute NNN lease structure, where Superior Star LLC, a well-capitalized franchisee operating 93+ Hardee's locations across 11 states, handles all operational aspects and property expenses. The lease provides built-in rent escalations every five years, with current annual income of $50,871 and four additional renewal options that could extend the tenancy through 2060. Sheldon represents an attractive market for quick-service restaurants, with Hardee's enjoying minimal direct competition from national fast-food brands in this community of approximately 5,200 residents. The restaurant benefits from its strategic positioning at Highway 18 and 320th Street, capturing traffic from both local residents and travelers along the primary east-west corridor. The surrounding area features complementary businesses including Casey's General Store and Subway, while the proximity to Sheldon Public Schools and Sheldon City Park generates consistent customer flow throughout the day. As the largest city in O'Brien County, Sheldon maintains economic stability through its diversified base of agriculture, manufacturing, and regional services. The community's strategic location provides businesses with access to larger markets while benefiting from lower operational costs and a stable workforce. Please refer to the OM for more information on this investment opportunity.

FOR SALE DETAILS

PRICE

$727,000 USD

PRICE/SF

$212 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hardee's Absolute NNN Lease

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Fast Food, Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1982

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.82 AC

LAND SF

35,719 SF

ZONING

-

APN/PARCEL ID

0036370000

ASK ABOUT THIS PROPERTY

612-396-7723

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612-396-7723

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