Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Net-Leased Freestanding Retail Gas Station Title is generated by Realmo AI

    1002 West Street, Grinnell, IA 50112

    View on Map
    Claim this Listing
    New
    For Sale
    Contact for pricing

    Freestanding retail property net leased to Maverik with 10.5 years remaining on the term.

    Type:Retail
    Property size:
    2,944 SF
    Lot size:
    0.85 Acres
    Price / SF:
    $823/SF
    Added:
    Jun 1, 2026
    Days on Market:
    6
    Last Refresh:
    Jun 6 at 5:05 am

    Property Features for 1002 West Street

    General Information

    Standard status
    Active
    Size
    2,944 SF
    Lot size
    0.85 Acres
    Property subtype
    Retail

    Building Details

    Year Built
    2009

    We can help!

    Listing Contact
    Mike Macri III, CCIM, MRED, CRE
    Mike Macri III, CCIM, MRED, CRE

    Listing agent Mike Macri III, CCIM, MRED, CRE License #IA S42743000

    Listing office CBRE - Des Moines

    Listing date Jun 1, 2026

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Des Moines

    HighLights

    • Freestanding retail property totaling 2,944 SF on 37,125 SF of land
    • Net leased to Maverik for 15 years, with 10.5 years remaining on the lease term
    • Construction year: 2009
    • CBRE offering price listed as $2,424,621.84
    • Listing reports a 5.95% cap rate

    Overview

    This offering presents a freestanding retail property configured as a gas station/automotive retail site, totaling 2,944 square feet. The property sits on 37,125 square feet of land and is currently net leased to Maverik under a lease term of fifteen years.

    The asset is located at 1002 West Street in Grinnell, Iowa (50112). As a freestanding parcel, it is positioned to serve motorists and the surrounding retail demand tied to an automotive-oriented use.

    For buyers seeking a single-tenant, net-leased structure in the retail gas station category, this property provides a stabilized lease arrangement with 10.5 years remaining. Maverik’s occupancy under the existing agreement is a key factor in evaluating tenant continuity and near-term operational expectations.
    Location Intelligence

    Current Use by Public Records

    Gas stations

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grinnell
    County
    Poweshiek
    State
    Iowa
    Longitude
    -92.727759
    Latitude
    41.745491

    Nearby Similar for Sale

    • $500,000
      10,700 SF

      Grinnell Manufacturing Facility For Sale

      10,700 SF manufacturing facility on 1.88 acres in Grinnell, IA.
      725 Penrose Street, Grinnell, IA 50112
      View Details
    • $2,530,947
      2,944 SF

      Freestanding NNN Retail Property

      Freestanding retail building is triple-net leased to Maverik with 10.5 years remaining.
      1002 West Street, Grinnell, IA 50112
      View Details
    • $133,500
      2,435 SF

      Grinnell Triplex Investment Opportunity

      Triplex near downtown Grinnell and college, great investment potential.
      1604 5th Avenue, Grinnell, IA 50112
      View Details
    • $299,000
      2,891 SF

      Grinnell Triplex with Income Potential

      Three-unit property in Grinnell, ideal for investors or owner-occupants.
      1221 Main Street, Grinnell, IA 50112
      View Details
    • $840,000
      60,414 SF

      Commercial Hydroponic Greenhouse Property

      Commercial hydroponic greenhouse on 7.5 acres near Highway 146.
      4349 32nd Street, Grinnell, IA 50112
      View Details
    • $1,100,000
      18,000 SF

      Drive-Up Self Storage Facility

      Modern 2022 storage facility with gated, fenced access, office and kiosk, and 198 non-climate units for drive-up use.
      623 Penrose Street, Grinnell, IA 50112
      View Details
    • $199,000
      3,154 SF

      Spacious Duplex Near Grinnell College

      Two-story duplex near Grinnell College with rental income potential.
      1126 Broad Street, Grinnell, IA 50112
      View Details
    • $1,415,000
      18,092 SF

      Grinnell Iowa Multifamily Investment Portfolio

      Portfolio of 12 rental homes with strong income potential.
      725 Spring Street, Grinnell, IA 50112
      View Details
    • $172,000
      2,019 SF

      Up-Down Duplex with Private Entrances

      Two 2-bedroom units each with private exterior entrances, kitchen and living space, plus recent exterior and roof updates.
      1202 Main Street, Grinnell, IA 50112
      View Details
    • $400,000
      4,800 SF

      Modern Warehouse with Horse Barn

      New warehouse and horse barn on +/- 2 acres.
      2-4349 32nd St, Grinnell, IA
      View Details
    • $369,900
      3,858 SF

      Renovated Four-Square Near Grinnell College

      Spacious, renovated four-unit property near Grinnell College and downtown.
      1132 Main Street, Grinnell, IA 50112
      View Details
    • $1,600,000

      Iowa Land with Cabin-Style Home

      76-acre Iowa property featuring a cabin, pond, and agricultural amenities.
      1109 E 132nd Street N, Grinnell, IA 50112
      View Details

    FAQs

    What type of property is this?
    Gas station - Freestanding retail property net leased to Maverik with 10.5 years remaining on the term.
    Where is this gas station located?
    The property is located at 1002 West Street Grinnell, IA.
    What is the asking price?
    The asking price for this property is $2,424,621.
    What are key features of this property?
    This property features: Freestanding retail property totaling 2,944 SF on 37,125 SF of land; Net leased to Maverik for 15 years, with 10.5 years remaining on the lease term; Construction year: 2009
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Mike Macri III, CCIM, MRED, CRE
    Mike Macri III, CCIM, MRED, CRE
    Real Estate License ID: IA S42743000
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1002 West Street, Grinnell, IA 50112
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!