Multi-Tenant Retail
402 Indianhead Dr Mason City, IA 50401
For Sale
Contact for pricing
Three-suite retail property leased to Subway and US Cellular near Indianhead Square.
Property Size6,148 SF
Price / SF$227.72
Days on Market58
Property Features for 402 Indianhead Dr
General Information
- Standard status
- Active
- Size
- 6,148 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2003
Listing Agency:
Hildebrand Real Estate
(641) 425-0363
Listed By:
Timothy Latham · License #IA B44162
Source:
Crexi
Added: May 27
Changed: Jul 10
Last Checked: Jul 23 at 8:16AM
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 Hildebrand Real Estate
Investment Insights
Based on property information with market context.
This west side retail storefront property is configured as three suites in total. Two of the suites are occupied by US Cellular, and one suite is under lease with Subway, creating a multi-tenant setup within a single ownership. The asset is presented for sale as a quality income-producing retail investment based on the current lease occupancy.
The property is located at 402 Indianhead Dr in Mason City, Iowa. It sits near the Indianhead Square retail center, with Walmart and Kohls nearby, placing it in an active shopping environment supported by established retail destinations.
For buyers seeking a small, professionally managed retail investment with established national tenants, this three-suite configuration offers straightforward leasing structure. It may also fit investors looking for exposure to consumer-oriented retail uses through long-recognized brands represented on-site by Subway and US Cellular. As presented, the key consideration is the existing tenant occupancy by two national operators across the three suites.
The property is located at 402 Indianhead Dr in Mason City, Iowa. It sits near the Indianhead Square retail center, with Walmart and Kohls nearby, placing it in an active shopping environment supported by established retail destinations.
For buyers seeking a small, professionally managed retail investment with established national tenants, this three-suite configuration offers straightforward leasing structure. It may also fit investors looking for exposure to consumer-oriented retail uses through long-recognized brands represented on-site by Subway and US Cellular. As presented, the key consideration is the existing tenant occupancy by two national operators across the three suites.
Key Highlights
- Built in 2003 three‑suite retail property
- 3 total retail suites leased to national tenants
- One suite leased to Subway
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 | $73.8k | $12.00 |
| − Vacancy | −$5.9k | −$0.96 |
| EGI | $67.9k | $11.04 |
| − OpEx | −$20.4k | −$3.31 |
| NOI | $47.5k | $7.73 |
6,148 SF · lease $12.00/SF/yr · vacancy 8.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$678.7K
$593.9K – $791.9K
NOI $47,512 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $108,032 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
UScellular
Mobile Phone Store
Subway
Take-out & Catering
FAQs
What type of property is this?
Storefront property - Three-suite retail property leased to Subway and US Cellular near Indianhead Square.
Where is this storefront property located?
The property is located at 402 Indianhead Dr Mason City, IA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Built in 2003 three‑suite retail property; 3 total retail suites leased to national tenants; One suite leased to Subway
