Profitable Convenience Store on
709 1st Street West, Independence, IA 50644
High-revenue convenience store on a primary commercial corridor.
Type:Retail
Property size:
2,000 SFPrice / SF:
$700/SF- Added:
- May 15, 2026
- Days on Market:
- 12
- Last Refresh:
- May 16 at 8:51 pm
Property Features for 709 1st Street West
General Information
- Standard status
- Active
- Size
- 2,000 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1991
Listing agent Jon Ruzicka License #B63379000
Listing office Marcus & Millichap - Minneapolis
Listing date May 15, 2026
Source Crexi
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HighLights
- High annual revenue ($3.5 million) generated by a diversified business model.
- Long‑term (20‑year) absolute NNN lease provides exceptional financial security.
- Strong financial performance with $280,406 EBITDAR.
- Strategic location on Independence's primary commercial corridor with high traffic and visibility.
- Operated and guaranteed by an experienced franchisee (Iowa Investment, LLC).
- Positioned in a stable market with a high median household income.
Overview
Located at 709 1st Street West in Independence, Iowa, this property is strategically positioned along State Highway 150, the city's primary commercial corridor. The 2,000 SF Music Station convenience store benefits from consistent daily traffic generated by local commuters, regional travelers, and the surrounding Buchanan County workforce. Its location on the city's main east-west arterial ensures strong visibility and a steady flow of daily-needs customers, while proximity to U.S. Highway 20 further amplifies regional traffic exposure. Independence serves as the economic and healthcare hub of Buchanan County, anchored by the Buchanan County Health Center. The market features a median household income of $73,806 and a homeownership rate of 72.2%. The property is located within the C-1 Central Commercial District. The facility operates a 7-day-a-week retail concept generating over $3.5 million in annual revenue through a diversified model integrating automotive fuel, convenience merchandise, lottery, and ATM services. Operated and guaranteed by Iowa Investment, LLC, Music Station demonstrates robust corporate health with $280,406 in EBITDAR and an impressive 2.50x coverage ratio on the initial rent obligation, backing the long-term 20-year absolute NNN lease with exceptional financial security and positioning the brand as a well-capitalized leader in the regional convenience retail sector.
Location Intelligence
Current Use by Public Records
Music Station
Gas Station
Location Insight
- Map
- Local Demand
- City
- Independence
- County
- Buchanan
- State
- Iowa
- Longitude
- -91.901668
- Latitude
- 42.4685696
Nearby Similar for Sale
FAQs
What type of property is this?
Grocery and convenience store - High-revenue convenience store on a primary commercial corridor.
Where is this grocery and convenience store located?
The property is located at 709 1st Street West Independence, 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: High annual revenue ($3.5 million) generated by a diversified business model.; Long‑term (20‑year) absolute NNN lease provides exceptional financial security.; Strong financial performance with $280,406 EBITDAR.
