Profitable Convenience Store on
For Sale
Contact for pricing
709 1st Street West, Independence, IA 50644
High-revenue convenience store on a primary commercial corridor.
Property Size2,000 SF
Price / SF$700
Days on Market87
Property Features for 709 1st Street West
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Retail
Zoning
C-1
Building Details
Year Built
1991
Listing Agency:
Marcus & Millichap - Minneapolis
Listed By:
Jon Ruzicka · License #MN 40583288
Source:
Crexi
Added: May 15
Changed: Aug 8
Last Checked: Aug 8 at 7:22AM
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 Marcus & Millichap - Minneapolis
Investment Insights
Based on property information with market context.
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.
Key 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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
18k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 77%
Dining 20%
Electronics 3%
Casey's
Shops & Services
7,525 visits/mo
0.2 miles
Dollar General
Shops & Services
4,292 visits/mo
0.1 miles
SUBWAY
Dining
3,608 visits/mo
0.4 miles
Advance Auto Parts
Shops & Services
2,298 visits/mo
0.2 miles
Verizon
Electronics
626 visits/mo
0.2 miles
Demographics for 50644, IA
8,795
Population
3,921
Households
2.2
Avg Household Size
42
Median Age
24%
College-Educated
96%
High-School Grad
145.0 sq mi
ZIP Area
61
Density / Sq Mi
$79,861
Median Household Income
$41,689
Median Earnings
$770
Median Rent
$174,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
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.
