700 11th St SW - Retail FOR SALE


Spencer, IA 51301
$5,336,500 USD
914-582-8281
700 11th St SW, Spencer, IA for Sale
$5,336,500 USD
Retail - FOR SALE
1/7
null | 7% Cap Rate

700 11th St SW
Spencer, IA 51301


HIGHLIGHTS

  • Prime Location | Situated on the main retail corridor in Spencer, providing unique tenant appeal and long-term real estate value.
  • High Credit Anchor Tenant | TJ Maxx committed to a long-term lease at the site, and has an S&P Credit Rating of A and over 1,300 locations nationwide
  • Recent Capital Improvements | Parking lot was fully replaced in 2023, West Wing Roof replaced in 2025, East Wing Roof replaced in 2023
  • Strong Tenancy Mix | 80% of the GLA is Occupied by National Tenants (TJ Maxx, Maurices, Cricket Wireless, Rent-A-Center).
  • Value-Add Potential | Upside opportunity through leasing two vacant units totaling 2,560 Sqft.
  • Recently Extended Leases | Four Tenants Recently Extended Their Leases, Demonstrating Their Commitment to the Site.

OVERVIEW

Prime Location | Situated on the main retail corridor in Spencer, providing unique tenant appeal and long-term real estate value. High Credit Anchor Tenant | TJ Maxx committed to a long-term lease at the site, and has an S&P Credit Rating of "A" and over 1,300 locations nationwide. Only TJ Maxx within a 50-Mile Radius | TJ Maxx experiences over 295,000+ Annual Visitors, per Placer.ai. Minimal Landlord Responsibilities | All tenants operate under NNN leases, limiting landlord exposure to expenses. Recent Capital Improvements | Parking lot was fully replaced in 2023, West Wing Roof replaced in 2025, East Wing Roof replaced in 2023, and TJ Maxx Roof partially replaced in 2025. Strong Tenancy Mix | 80% of the GLA is Occupied by National Tenants (TJ Maxx, Maurices, Cricket Wireless, Rent-A-Center). Value-Add Potential | Upside opportunity through leasing two vacant units totaling 2,560 Sqft. Strong Remaining Lease Term | Over 5.7-Years of WALT with Multiple Options & Rental Increases Recently Extended Leases | Four Tenants Recently Extended Their Leases, Demonstrating Their Commitment to the Site. Excellent Traffic & Visibility | 9,038+ vehicles per day with strong visibility and ease of access. Shadow Anchored By a Walmart Supercenter | Walmart experiences over 1.6M+ Annual Visitors, per Placer.ia, and is the only Walmart within a 20-mile radius. Positioned along Spencer's Primary Retail Corridor | Walmart, Menards, Bomgaars, Hobby Lobby, Dunham's Sports, Shoe Sensation, JC Penny, Jersey Mike's, Taco Bell, McDonald's, etc.

FOR SALE DETAILS

PRICE

$5,336,500 USD

PRICE/SF

$126 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pine Tree Plaza|94% Occupied|5.7 Years WALT

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

201

LAND DETAILS

LAND ACRES

9 AC

LAND SF

392,040 SF

ZONING

C-2

APN/PARCEL ID

9637-24-226-005

ASK ABOUT THIS PROPERTY

Michael ScaliSAB CapitalMore Info
914-582-8281

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Michael ScaliSAB CapitalMore Info
914-582-8281

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