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    1900 Hamilton Blvd Sioux City, IA 51104

    Sponsored
    For Sale
    $6,794,000

    Iowa Retail Investment: High NOI, Strong Tenant

    Property size:
    14,838 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a fee-simple interest in a freestanding Walgreens located at 1900 Hamilton Blvd, Sioux City, IA 51104. The 14,838 square foot building, constructed in 2013, sits on a 2.34-acre lot with 60 parking spaces and benefits from a high-traffic location at a signalized intersection, boasting 33,100 vehicles daily and proximity to I-29 (91,000 VPD). The property features a drive-thru and a liquor license. The absolute NNN lease with Walgreens, a nationally recognized brand, has approximately 10 years remaining with 11 five-year renewal options. The corporate-guaranteed lease provides zero landlord responsibilities, ensuring a passive income stream. The property enjoys 100% occupancy and generates a strong net operating income (NOI) of $441,603, representing a 6.50% cap rate and a price per square foot of $457.88. The surrounding area includes numerous national retailers and residential communities, supporting a robust consumer base. The 5-mile trade area boasts over 101,400 residents and 51,500 daytime employees, with an average household income of $81,420. The property is zoned BC-C: Community Business Zone and has an APN of 894720404018. This is a prime investment opportunity with significant long-term potential.

    Property Features for 1900 Hamilton Blvd

    General Information

    Property type
    Individual retail properties
    Square Feet
    14,838 SF
    Lot Size
    101,930 SF

    Building Details

    Year Built
    2013
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • 10‑Year Corporate Lease Remaining
    • Absolute NNN, Fee Simple Ownership
    • High‑Performing, Established Brand Liquor Store in Major Shopping Center, 24/7 Access
    • Hard Corner, Signalized Intersection with Excellent Visibility
    • Strong Demographics within a 5‑Mile Radius
    Property Profile Location Intelligence

    Current Use by Public Records

    Walgreens Drug Store Walgreens Pharmacy Pharmacy Walgreens Photo Passport Photo Processor FedEx OnSite Mailing Service COVID-19 Drive-Thru Testing ... Medical Laboratory

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sioux City
    County
    Woodbury
    State
    Iowa
    Longitude
    -96.4162633
    Latitude
    42.5112312

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    FAQs

    What type of property is this?
    Individual retail property - Iowa Retail Investment: High NOI, Strong Tenant
    Where is this individual retail property located?
    The property is located at 1900 Hamilton Blvd Sioux City, IA.
    What is the asking price?
    The asking price for this property is $6,794,000.
    What are key features of this property?
    This property features: 10-Year Corporate Lease Remaining; Absolute NNN, Fee Simple Ownership; High-Performing, Established Brand Liquor Store in Major Shopping Center, 24/7 Access
    Request Owner's contact information
    1900 Hamilton Blvd Sioux City, IA 51104
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    Sioux City, IA 51104
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1900 Hamilton Blvd Sioux City, IA 51104
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