1850 Blairs Ferry RdHiawatha, IA 52233

This exceptional investment opportunity presents a brand-new, 4,600 square foot auto shop in Hiawatha, Iowa, currently operating as a Brakes Plus location. The property boasts a 20-year absolute triple-net (NNN) lease with a prominent national tenant, Brakes Plus, backed by the corporate guarantee of Mavis Tire Express Services Corp., a leading automotive service company with over 2,000 service centers nationwide. The lease features a 6.00% cap rate and a built-in rent escalator of 5% every five years, ensuring consistent income growth. The property sits on a 0.95-acre lot and was constructed in 2023. The lease includes six, five-year renewal options, providing long-term stability and predictable cash flow. Located at 1850 Blairs Ferry Rd NE, Hiawatha, IA 52233, this property benefits from its position within the Cedar Rapids MSA, a vibrant market with a population exceeding 115,353 residents. The property's strong tenant, Brakes Plus, offers a wide range of automotive services, including brake repair, tire rotation, oil changes, and more, catering to a substantial customer base. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with significant long-term potential. The asking price is $2,916,667, with a price per square foot of $634.06 and a Net Operating Income (NOI) of $175,000. The property is currently 100% occupied.