Single-Tenant Retail
For Sale
$1,500,000
3150 24th Ave, Council Bluffs, IA 51501
100% leased storefront investment occupied by Hometown Cookout with 5.5 years remaining on the current lease term.
Property Size5,088 SF
Days on Market98
Property Features for 3150 24th Ave
General Information
Standard status
Active
Size
5,088 SF
Property subtype
Retail
Occupancy
100%
Additional Details
Cap Rate
6.5%
Building Details
Building Size
5,088 SF
Year Built
2006
Tenancy
Single
Listing Agency:
NAI NP Dodge
Listed By:
Will Schneidewind · License #NE #125335
(402) 320-0561
Source:
Nainpdodge
Added: Jul 25
Changed: Oct 25
Last Checked: Oct 28 at 5:42AM
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 NAI NP Dodge
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This single-tenant retail storefront property is 100% leased and currently occupied by Hometown Cookout. The property includes 5.5 years remaining on the current lease term, supporting stable, in-place cash flow for investors. The retail property is described as well-maintained.
In addition to the retail building, the offering includes additional land that could support a future kiosk or building development. The property is located at 3150 24th Ave, Council Bluffs, IA 51501.
The public remarks cite a 6.5% cap rate for the investment, based on the current leased structure and occupancy.
In addition to the retail building, the offering includes additional land that could support a future kiosk or building development. The property is located at 3150 24th Ave, Council Bluffs, IA 51501.
The public remarks cite a 6.5% cap rate for the investment, based on the current leased structure and occupancy.
Key Highlights
- 100% leased single‑tenant retail storefront occupied by Hometown Cookout
- 5.5 years remaining on the current lease term
- 6.5% cap rate (as stated in the remarks)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,480
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,009,600
$1.0M
Cap Rate 7%
$721,143
$721.1K
Cap Rate 9%
$560,889
$560.9K
Market Conditions
NOI Build-Up for 5,088 SF
Gross rent
$78.8K $15.48/SF
− Vacancy
−$6.6K −$1.31/SF
EGI
$72.1K $14.17/SF
− OpEx
−$21.6K −$4.25/SF
NOI
$50.5K $9.92/SF
Area
Pottawattamie County, IA
Vacancy
8.44%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,009,600
Cap Rate 7%
$721,143
Cap Rate 9%
$560,889
Alternative Uses
Best Use
Retail
$721.1K
$631.0K – $841.3K
NOI $50,480 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$971.7K
$850.2K – $1.13M
NOI $68,019 @ 7.0% cap · market cap 4.53%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
165
Businesses Nearby
184k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 31%
Hotels & Casinos 24%
Leisure 23%
Shops & Services 11%
Bass Pro Shops
Apparel
57,757 visits/mo
0.4 miles
AMC Council Bluffs 17
Leisure
41,349 visits/mo
0.2 miles
Horseshoe Council Bluffs Casino
Hotels & Casinos
35,331 visits/mo
0.5 miles
Bucky's Convenience Stores
Shops & Services
20,620 visits/mo
0.5 miles
Quaker Steak & Lube
Dining
13,670 visits/mo
0.1 miles
Demographics for 51501, IA
34,906
Population
15,217
Households
2.3
Avg Household Size
38
Median Age
17%
College-Educated
86%
High-School Grad
23.9 sq mi
ZIP Area
1,461
Density / Sq Mi
$59,314
Median Household Income
$40,229
Median Earnings
$997
Median Rent
$140,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Storefront property - 100% leased storefront investment occupied by Hometown Cookout with 5.5 years remaining on the current lease term.
Where is this storefront property located?
The property is located at 3150 24th Ave Council Bluffs, IA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 100% leased single‑tenant retail storefront occupied by Hometown Cookout; 5.5 years remaining on the current lease term; 6.5% cap rate (as stated in the remarks)
