Sale Price $650,000 - MLS: 202504155
This sale is a land lot purchase that is leased on an absolute NNN lease to a Hy Vee gas station. The site is 26,910 square feet that was first developed in 2002. All costs are borne by the Tenant, Hy Vee, and the lease rate is $42,996 annually yielding a 6.6% Capitalization Rate with low risk and no costs. It is a well-known business model, the Hy Vee gas station and the adjacent Hy Vee grocery store work in tandem with discounts and benefits driving both venues. The current lease term is for 4 years with a 5-year option. It is highly likely that Hy Vee will continue to renew this lease.
MLS #: 202504155
Sale Price: $650,000
Year Built: 2002
Sq Ft: 2605.0
Business: Retail
Construction: Frame, Steel Or Metal
Floor Type: Ceramic Tile
Financing:
Utilities: Cable Available, Electricity Available, Natural Gas Available, Sewer Available, Phone Available, City Water
Acreage: 0.62
Lot: Irregular
Frontage: County Road, Paved
Energy Generation:
Heat/Cooling: Natural Gas, Forced Air, Central Air
Information deemed reliable but not guaranteed
 | Edge Realty Group 319-351-3355 |
Listing Office: Lepic-Kroeger, REALTORS - Agent: Jeff Edberg - Information furnished by Iowa City Area Association of Realtors