700 IA-148 - Warehouse FOR SALE


Anita, IA 50020
$2,330,000 USD
507-327-9830
700 IA-148, Anita, IA for Sale
$2,330,000 USD
Warehouse - FOR SALE
1/14
null | 9% Cap Rate

700 IA-148
Anita, IA 50020


HIGHLIGHTS

  • Fully leased 60,000 SF industrial facility occupied by Pomp’s Tire Service, Inc. through December 31, 2029
  • Attractive 9.0% cap rate with $210,000 in-place NOI and 3.0% annual rent escalations
  • Tire retread and distribution facility supporting Pomp’s regional operations
  • Acquisition basis of under $40 per square foot, significantly below replacement cost
  • Direct access to Interstate 80, one of the nation’s primary east-west transportation corridors
  • 2004 construction featuring standing seam metal roof, 6 dock doors and 1 drive-in door

OVERVIEW

Colliers is pleased to present the opportunity to acquire a fully leased industrial manufacturing and distribution facility occupied by Pomp’s Tire Service, Inc., one of the Midwest’s largest independently owned tire service providers. Strategically located in Anita, Iowa with immediate access to Interstate 80, the Property serves as a mission-critical tire retread and distribution operation supporting Pomp’s extensive commercial tire network throughout the region. The offering consists of a 60,000-square-foot industrial facility constructed in 2004 and leased in its entirety to Pomp’s Tire Service, Inc. The building features durable metal panel construction, a standing seam metal roof, 24’ clear height (peak), six dock-high loading doors, one drive-in door, andprimarily motion-sensored LED lighting. The Property is offered at $2,330,000, representing an attractive 9.0% cap rate on the current in-place net operating income. The lease is structured on a triple-net basis with 3.0% annual rental increases through its expiration on December 31, 2029, providing investors with predictable and growing cash flow. A key differentiator of this offering is its significant embedded rental upside. The current lease rate is $3.50/NNN, materially below prevailing market rents for comparable industrial facilities. Importantly, the lease contains no tenant renewal options, providing ownership with the ability to negotiate a renewal at then-current market rates or reposition the asset upon lease expiration. This creates a compelling mark-to-market opportunity that is uncommon in net-leased industrial investments, offering investors the potential for meaningful NOI growth beyond the current lease term. Acquired at approximately $39 per square foot, the property is available at a basis at or below comparable vacant buildings, providing investors with a significant margin of safety while preserving long-term flexibility. The modern industrial facility offers durable construction, efficient loading capabilities, and exceptional access to Interstate 80—one of the nation’s premier east-west transportation corridors. The combination of a 9.0% going-in yield, contractual annual rent growth, substantially below-market in-place rents, and a clear path to future rental rate expansion positions this property as a compelling investment opportunity for buyers seeking both immediate cash flow and long-term value creation.

FOR SALE DETAILS

PRICE

$2,330,000 USD

PRICE/SF

$39 USD /SF

CAP RATE

9%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2004

UTILITIES

-

CLEAR CEILING HT

24 Ft

DOCKS

6

DRIVE INS

1

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.61

LAND SF

200,812

ZONING

C

APN/PARCEL ID

320012627001005

ASK ABOUT THIS PROPERTY

Cole SkowColliersMore Info
507-327-9830

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

Cole SkowColliersMore Info
507-327-9830

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