609 32nd Ave - Freestanding FOR SALE
Council Bluffs, IA 51501 |
$900,000 USD
512-430-4466
609 32nd Ave
Council Bluffs, IA 51501
HIGHLIGHTS
- RARE GROUND LEASE: Subject property offers a rare low rent deal with minimal responsibilities. Tenant is only paying $7.50 PSF in a market with nearly
- FREEWAY ADJACENT: Strategically located on S Expressway St which sees ±21,900 vehicles per day and one block from I-80 Express
- CRITICAL RETAIL HUB: 3 of the largest retail traffic drivers are around the corner from the subject property: Home Depot, Walmart, and Sam’s Club.
- CORPORATE GUARANTEED LEASE: Backed by one of the largest auto parts retailers in the country, Advance Auto Parts, Inc. (NYSE: AAP), a Fortune 500 comp
- STRONG COMMITMENT: The tenant has operated at this location since 1999 and recently extended their lease through 2030, demonstrating long-term commitm
- PREMIUM INCREASES: Lease includes 15% rental increases at the beginning of each of the two remaining option periods, enhancing income growth and provi
FOR SALE DETAILS
PRICE
$900,000 USD
PRICE/SF
$113 USD /SF
CAP RATE
5.83%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
ADVANCE AUTO PARTS
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1997
SPRINKLERS
-
PARKING SPACES
30
LAND DETAILS
LAND ACRES
0.81 AC
LAND SF
35,284 SF
ZONING
P-C
APN/PARCEL ID
7444-12-254-001
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512-430-4466
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512-430-4466
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