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Vacant-User

Walmart Shadow Center | Value Add

830 S Oak St, Iowa Falls, IA 50126

Listing Price: $1,294,000

Cap Rate
8.24%
Gross SF
13,700
Rentable SF
13,700
Price/Gross SF
$94.45
Lot Size
2.33 acres
Year Built
2017

Investment Overview

Marcus & Millichap is pleased to present this two-tenant value-add Walmart Shadowed Center. Dollar Tree just executed a three-year extension at a very low rent of $5.71 per square foot. Both Landlord and Dollar Tree have the right to terminate the lease with 120 day notice. This provides the Landlord the opportunity to have time to find a new long term tenant at market rent.
The other tenant, a tobacco business, is under lease for several more years.
The property is shadowed by Walmart and is in the immediate vicinity of Hy-Vee grocery as well as Hansen Family Hospital which is an affiliate Mercy One, Shoe Sensation and Kwik Trip.
The site has a larger than normal lot at 2.33 acres providing additional potential upside. The building is believed to be in excellent condition and is priced below replacement cost at $94 per square foot. In addition there is a roof warranty in place until 2033.

Investment Highlights

  • Walmart Shadowed Center - Value Add
  • Dollar Tree Recently Extended For Three years
  • Dollar Tree Rent is Only $5.71 PSF
  • Landlord & Dollar Tree Both Have 120 Day Termination Providing Substantial Upside For Landlord
  • Large Lot at Approximately 2.33 Acres Providing More Potential Upside
  • Roof Warranty Currently In Place Until 2033

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) IA: B63379000

    Iowa

Vacant-User

Walmart Shadow Center | Value Add

Listing Price: $1,294,000

Cap Rate
8.24%
Gross SF
13,700
Rentable SF
13,700
Price/Gross SF
$94.45
Lot Size
2.33 acres
Year Built
2017

Investment Highlights

  • Walmart Shadowed Center - Value Add
  • Dollar Tree Recently Extended For Three years
  • Dollar Tree Rent is Only $5.71 PSF
  • Landlord & Dollar Tree Both Have 120 Day Termination Providing Substantial Upside For Landlord
  • Large Lot at Approximately 2.33 Acres Providing More Potential Upside
  • Roof Warranty Currently In Place Until 2033

Investment Overview

Marcus & Millichap is pleased to present this two-tenant value-add Walmart Shadowed Center. Dollar Tree just executed a three-year extension at a very low rent of $5.71 per square foot. Both Landlord and Dollar Tree have the right to terminate the lease with 120 day notice. This provides the Landlord the opportunity to have time to find a new long term tenant at market rent. The other tenant, a tobacco business, is under lease for several more years. The property is shadowed by Walmart and is in the immediate vicinity of Hy-Vee grocery as well as Hansen Family Hospital which is an affiliate Mercy One, Shoe Sensation and Kwik Trip. The site has a larger than normal lot at 2.33 acres providing additional potential upside. The building is believed to be in excellent condition and is priced below replacement cost at $94 per square foot. In addition there is a roof warranty in place until 2033.

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): IA: B63379000

    Iowa

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