1314 Franklin St Waterloo, IA 50703

This exceptional investment opportunity presents a 7,000-square-foot retail storefront in Waterloo, Iowa, currently occupied by a credit-rated Advance Auto Parts under a triple-net (NN+) lease. The property boasts a strong 7.5% cap rate, based on a Net Operating Income (NOI) of $64,679. The lease, originally signed in July 2001, has a remaining term of 7.1 years, extending to December 31, 2031. This represents a significant advantage, as the lease was extended four years early. The property sits on a 0.83-acre lot and is a single-story building constructed in 2001. The asking price is $863,300, translating to a price per square foot of $123.33. This represents a below-market rent and is significantly below replacement cost. The location benefits from a strong demographic profile, serving a population of 113,000 residents within a 15-minute drive. Furthermore, it's the only auto parts store within a two-mile radius, ensuring consistent demand and market dominance. The tenant's long-standing presence (23 years) and the corporate guarantee provide exceptional security and stability for this investment. The property demonstrates resilience to economic downturns, making it an attractive and low-risk investment opportunity. The property address is 1314 Franklin St, Waterloo, IA 50703.