Stand-Alone NNN Retail
3475 Westdale Drive SW Cedar Rapids, IA 52404
3475 Westdale Drive SW, Cedar Rapids, IA, 52404
$6,595,555
For Sale
$6,595,555
Leased stand-alone Burlington Coat Factory property with a remaining term and scheduled 10% rent increase.
Property Size40,703 SF
Price / SF$162.04
Days on Market330
Property Features for 3475 Westdale Drive SW
General Information
- Standard status
- Active
- Size
- 40,703 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2016
Listing agency
LEPIC-KROEGER, REALTORS
(319) 899-3820
Listed by
Hope Hall
(319) 899-3820
Source
Pinnaclerealtyia
Added: Aug 27, 2025 Updated: Jul 10 at 2:13PM Checked: Jul 21 at 3:16AM
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 LEPIC-KROEGER, REALTORS
Investment Insights
Based on property information with market context.
This is a stand-alone NNN retail building leased to Burlington Coat Factory. The offering is based on the original 15-year lease structure, with 6+ years remaining. A rental increase is scheduled in 3 years, noted as 10%, providing a defined step-up within the current lease term.
The property is located at 3475 Westdale Drive SW in Cedar Rapids, Iowa (52404). It is presented as an NNN investment, with additional leasing and financial details available through the listing agents.
For investors seeking a single-tenant, long-term retail lease profile, this asset offers the stability of a remaining lease period under an NNN arrangement. Prospective buyers and tenant/broker groups can review the lease term and the upcoming 10% increase as part of underwriting and long-range planning. Contact the listing agents for further information and documents supporting the lease and rent schedule.
The property is located at 3475 Westdale Drive SW in Cedar Rapids, Iowa (52404). It is presented as an NNN investment, with additional leasing and financial details available through the listing agents.
For investors seeking a single-tenant, long-term retail lease profile, this asset offers the stability of a remaining lease period under an NNN arrangement. Prospective buyers and tenant/broker groups can review the lease term and the upcoming 10% increase as part of underwriting and long-range planning. Contact the listing agents for further information and documents supporting the lease and rent schedule.
Key Highlights
- Leased stand‑alone Burlington Coat Factory property (NNN)
- Year built: 2016
- 1.38‑acre lot (lot dimensions listed as 60112)
Local 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 | $595.9k | $14.64 |
| − Vacancy | −$46.1k | −$1.13 |
| EGI | $549.8k | $13.51 |
| − OpEx | −$164.9k | −$4.05 |
| NOI | $384.9k | $9.46 |
40,703 SF · lease $14.64/SF/yr · vacancy 7.73% · expense 30.00%
Alternative Uses
Best Use
Retail
$5.50M
$4.81M – $6.41M
NOI $384,881 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.89M
$5.15M – $6.87M
NOI $412,372 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Burlington
Baby Clothing Store
Similar For Sale Nearby
FAQs
What type of property is this?
NNN property - Leased stand-alone Burlington Coat Factory property with a remaining term and scheduled 10% rent increase.
Where is this nnn property located?
The property is located at 3475 Westdale Drive SW Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $6,595,555.
What are key features of this property?
This property features: Leased stand‑alone Burlington Coat Factory property (NNN); Year built: 2016; 1.38‑acre lot (lot dimensions listed as 60112)
