Altoona Restaurant with Redevelopment
3131 8th St SW Altoona, IA
For Sale
Contact for pricing
Restaurant with redevelopment potential, excellent visibility and access.
Property Size4,760 SF
Lot Size0.87 Acres
Price / SF$355.04
Days on Market1290
Property Features for 3131 8th St SW
General Information
- Standard status
- Active
- Size
- 4,760 SF
- Lot size
- 0.87 Acres
- Property subtype
- RETAIL
Listing Agency:
Cushman & Wakefield
(515) 554-0999
Listed By:
Christopher Stafford, CCIM · License #S44232000
(515) 554-0999
Source:
Moodyscre
Added: Jan 11, 2023
Changed: Jul 6
Last Checked: Jul 21 at 4:05AM
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 Cushman & Wakefield
Investment Insights
Based on property information with market context.
The property presents redevelopment and/or conversion potential, enhanced building design and exterior features, and superior monument and building signage. It features excellent visibility and access. The existing restaurant includes a patio and pick-up window. There is potential to expand the lot with right-of-way acquisition of 25 feet depth along the south property line. The restaurant is currently open and operating, with the owner planning to downsize. The property size is 4,760 square feet and is located in Altoona, Iowa.
Key Highlights
- Excellent visibility and access
- Redevelopment and/or conversion potential
- Superior monument and building signage
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $85.7k | $18.00 |
| − Vacancy | −$4.7k | −$0.99 |
| EGI | $81.0k | $17.01 |
| − OpEx | −$20.2k | −$4.25 |
| NOI | $60.7k | $12.76 |
4,760 SF · lease $18.00/SF/yr · vacancy 5.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$867.5K
$759.1K – $1.01M
NOI $60,726 @ 7.0% cap · market cap 3.59%
Second Best
Retail
$627.2K
$548.8K – $731.7K
NOI $43,902 @ 7.0% cap · market cap 2.60%
Theoretical Best
Flex RnD
$4.58M
$4.01M – $5.35M
NOI $320,748 @ 7.0% cap · market cap 18.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Restaurants
FAQs
What type of property is this?
Restaurant - Restaurant with redevelopment potential, excellent visibility and access.
Where is this restaurant located?
The property is located at 3131 8th St SW Altoona, IA.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: Excellent visibility and access; Redevelopment and/or conversion potential; Superior monument and building signage
