Cap Rate
8.5%
$ per SF
$82
610 N Jefferson Way, Indianola, IA, 50125
Shoe Sensation$564,871
Key Information
Tot. SF
6,856
Lot Size
-0.28 Acres
Year Built
2014 / 2019 (R)
Term Remaining
± 1.75 Years
Type
Retail
NOI
$48,014
Highlights
- Recent Retrofit: 2019 retrofit from a former Advance Auto Parts.
- Attractive Cap Rate: 8.50% cap rate provides strong yield for investors.
- Strong Demographics: 5-Mile population of 18,967 residents with continued growth and affluent $108,620 average household income.
- High Traffic Corridor: Traffic counts in excess of ±20,000 vehicles daily on Jefferson Way.
- Retail Synergy: Surrounded by national retailers including Walmart Supercenter, Walgreens, Burger King, O’Reilly, McDonald’s, Taco Bell, and Dollar Tree.
- Corporate Lease: Corporate lease with Shoe Sensation, Inc., a 244-location retailer in 20+ states.
- Niche Market Focus: Shoe Sensation fills underserved markets in smaller towns with limited competition.
- Tenant CAM Responsibility: Tenant is responsible for exterior CAM of parking lot and landscaping.
- Flexible Lease Options: Three 5-year renewal options with 10% increases in options 2 and 3.
- Recent Renovation: Property renovated in 2019, originally built in 2014.
Photos
Location
Agents
J
Josh BishopLicense # 688810 (TX)
S
Scotty LatimerLicense # 790608 (TX)
Broker of Record
Adam Marek
License # F03991000, S44830000 (IA)Pacific Realty Commercial, LLC11516 Miracle Hills Dr. Ste #400 Omaha, NE 68154