Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    1514 Washington St Pella, IA 50219

    Sponsored
    For Sale
    $4,400,000

    Walmart-shadowed retail center, high occupancy.

    Property size:
    34,360 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 34,360-square-foot shopping center in Pella, Iowa. Located at 1514 Washington Street, this Class B property boasts a prime location directly adjacent to a Walmart Supercenter, ensuring high visibility and consistent traffic. The center features 12 tenants, including Sincera Health, Domino's, Maurices, Great Clips, Whylie Eye Care, Verizon Wireless, Triumph Martial Arts, Mueller Chiropractor, Special Nails & Spa, and Yamato Steak House of Japan, with only one vacant unit currently available. A landlord-guaranteed lease for one year is in place for this vacant space, mitigating risk. Built in 2007, this single-story building sits on a 6.25-acre lot and offers ample parking. The property's strong tenant mix, high 87% occupancy rate, and an 8.00% cap rate contribute to a compelling investment profile. The projected net income is $352,000, based on a gross income of $455,000 plus a guaranteed lease income of $47,000, less estimated 2024 expenses of $150,000. Pella's thriving community, home to Central College, Pella Corporation, and Vermeer Corporation, further enhances the property's long-term potential. Daily traffic counts on Washington Street reached 11,600 vehicles per day in 2018. This is a multi-tenant property with thirteen units in total. The asking price for this institutional-grade investment is $4,400,000.

    Property Features for 1514 Washington St

    General Information

    Property type
    Lifestyle centers
    Square Feet
    34,360 SF
    Class
    B
    Lot Size
    272,250 SF

    Building Details

    Year Built
    2007
    Buildings
    1
    Stories
    1
    Units
    13

    HighLights

    • Investment property for sale.
    • Walmart‑shadowed retail center.
    • Asking price: $4,400,000.
    • 8% cap rate with landlord‑guaranteed lease.
    • One vacant unit with a one‑year landlord‑guaranteed lease.
    • Net income: $352,000 (based on $455,000 income + $47,000 guaranteed lease - $150,000 expenses).
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Pella
    County
    Marion
    State
    Iowa
    Longitude
    -92.931416817062
    Latitude
    41.411052225346

    Nearby Comparable

    • Contact for pricing
      1.05 Acres

      Pella, IA Commercial Outlot

      Prime 1.05-acre outlot near Walmart.
      1650 Washington St, Pella, IA 50219
      View Details
    • $609,840
      7.00 Acres

      Pella Commercial Land - 7 Acres

      Prime Iowa commercial land, build-to-suit potential.
      2714 Fifield Rd, Pella, IA 50219
      View Details
    • $1,250,000

      Pella Commercial Building - Huge Potential

      Versatile Commercial Space, Ample Parking, Prime Location
      309 & 322 St, Pella, IA 50219
      View Details
    • $1,250,000
      2.70 Acres

      Pella Commercial Property: Prime Location

      Versatile building, ample space, great location.
      309 & 322 St, Pella, IA 50219
      View Details
    • $1,000,000
      Pending

      Versatile Commercial Building in Pella

      38,693 SF building suitable for office, warehouse, storage, shop.
      309 & 322 St South, Pella, IA 50219
      View Details
    • $1,390,000

      Pella Industrial Land Investment Opportunity

      Two Warehouse Sites, Prime Location
      0 309 & 322 St, Pella, IA 50219
      View Details
    • Contact for pricing
      87,120 SF

      Pella IA Industrial Park Investment

      Prime Iowa Distribution/Flex Space
      0 Ia-92, Pella, IA 50219
      View Details
    • $1,700,000
      25,140 SF

      Pella Industrial Campus: Prime Location

      Versatile Commercial Property, 25,000+ sq ft
      2090 Idaho Dr, Pella, IA 50219
      View Details

    Nearby Similar for Sale

    • $1,000,000
      Pending

      Versatile Commercial Building in Pella

      38,693 SF building suitable for office, warehouse, storage, shop.
      309 & 322 St South, Pella, IA 50219
      View Details
    • $1,250,000

      Pella Commercial Building - Huge Potential

      Versatile Commercial Space, Ample Parking, Prime Location
      309 & 322 St, Pella, IA 50219
      View Details
    • $1,250,000
      2.70 Acres

      Pella Commercial Property: Prime Location

      Versatile building, ample space, great location.
      309 & 322 St, Pella, IA 50219
      View Details
    • $1,700,000
      25,140 SF

      Pella Industrial Campus: Prime Location

      Versatile Commercial Property, 25,000+ sq ft
      2090 Idaho Dr, Pella, IA 50219
      View Details
    • Contact for pricing
      87,120 SF

      Pella IA Industrial Park Investment

      Prime Iowa Distribution/Flex Space
      0 Ia-92, Pella, IA 50219
      View Details

    FAQs

    What type of property is this?
    Lifestyle center - Walmart-shadowed retail center, high occupancy.
    Where is this lifestyle center located?
    The property is located at 1514 Washington St Pella, IA.
    What is the asking price?
    The asking price for this property is $4,400,000.
    What are key features of this property?
    This property features: Investment property for sale.; Walmart-shadowed retail center.; Asking price: $4,400,000.
    Request Owner's contact information
    1514 Washington St Pella, IA 50219
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1514 Washington St
    Pella, IA 50219
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1514 Washington St Pella, IA 50219
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.