Single-Tenant Retail
3150 24th Ave Council Bluffs, IA 51501
New
For Sale
$1,500,000
100% leased storefront investment occupied by Hometown Cookout with 5.5 years remaining on the current lease term.
Days on Market5
Property Features for 3150 24th Ave
General Information
Standard status
Active
Property subtype
Retail
Building Details
Year Built
2006
Listing Agency:
NAI NP Dodge
(402) 320-0561
Listed By:
Will Schneidewind · License #NE #125335
(402) 320-0561
Source:
Nainpdodge
Added: Jul 25
Changed: Jul 26
Last Checked: Jul 28 at 7:08AM
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
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 For 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 | $78.8k | $15.48 |
| − Vacancy | −$6.6k | −$1.31 |
| EGI | $72.1k | $14.17 |
| − OpEx | −$21.6k | −$4.25 |
| NOI | $50.5k | $9.92 |
5,088 SF · lease $15.48/SF/yr · vacancy 8.44% · expense 30.00%
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.
Property Analytics
Location Intelligence
Current Use
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)
