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    600 Le Claire Rd Eldridge, IA 52748

    For Sale
    $3,550,000

    Iowa Retail Investment: 7.77% Cap Rate

    Property size:
    27,120 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    Eldridge Plaza, a well-maintained, single-story shopping center in Eldridge, Iowa, presents a compelling investment opportunity. This 27,120 square foot, multi-tenant property is situated on a 2.58-acre lot at the high-traffic intersection of E LeClaire Rd and Hwy 61, ensuring excellent visibility and accessibility. The Class B center boasts six tenants across eight units, currently operating at 86% occupancy, generating a pro-forma NOI of $276,002 and a pro-forma cap rate of 7.77%. The asking price is $3,550,000, translating to $130.90 per square foot. The property is offered as a net lease (NNN) investment, with no tenant credit rating available. Leases feature annual escalations, providing a built-in mechanism for future income growth. The staggered lease expirations offer potential for value-add opportunities to further enhance the net operating income. This property is an excellent addition to any diversified portfolio seeking stable income and future upside potential in a strong Iowa market. The building is comprised of one building with a total of eight units.

    Property Features for 600 Le Claire Rd

    General Information

    Property type
    Lifestyle centers
    Square Feet
    27,120 SF
    Class
    B
    Lot Size
    112,385 SF

    Building Details

    Buildings
    1
    Stories
    1
    Units
    8

    HighLights

    • $3,550,000 asking price for a 27,120 SF shopping center.
    • Net lease, Class B property with a 7.77% pro‑forma cap rate and $276,002 pro‑forma NOI.
    • Multi‑tenant (6 tenants) with 86% occupancy; located at 600 E Le Claire Rd, Eldridge, IA 52748.
    • 2.58‑acre lot, single‑story building, $130.90 price per square foot.
    • High‑traffic, high‑visibility location on E Le Claire Rd at Hwy 61 exit; leases include annual escalations.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    North Scott Physical ... Physical Therapist Fly Pies - Cauliflower ... Pizza Delivery Kevin Swanson Physical Therapist Gyro 600 - Eldridge Restaurant

    Suggested Use

    Restaurant Daycare Center Gym & Fitness Bar & Pub Kitchen & Bath Grocery Store Hotel & Motel Wholesale Shop Building Supply Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Eldridge
    County
    Scott
    State
    Iowa
    Longitude
    -90.5750676
    Latitude
    41.6553181

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    FAQs

    What type of property is this?
    Lifestyle center - Iowa Retail Investment: 7.77% Cap Rate
    Where is this lifestyle center located?
    The property is located at 600 Le Claire Rd Eldridge, IA.
    What is the asking price?
    The asking price for this property is $3,550,000.
    What are key features of this property?
    This property features: $3,550,000 asking price for a 27,120 SF shopping center.; Net lease, Class B property with a 7.77% pro-forma cap rate and $276,002 pro-forma NOI.; Multi-tenant (6 tenants) with 86% occupancy; located at 600 E Le Claire Rd, Eldridge, IA 52748.
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    Eldridge, IA 52748
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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
    600 Le Claire Rd Eldridge, IA 52748
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