1514 Washington St Pella, IA 50219

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.