3231 Market Place Dr Council Bluffs, IA 51501

Property Details for 3231 Market Place Dr

Lot size

31.12 lot acres

Property size

114,372 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional 114,372 square foot shopping center in Council Bluffs, Iowa, presents a compelling investment opportunity. Boasting 100% occupancy with seven tenants, including strong national credit tenants such as Boot Barn and Petco, and two new national box retailers (one build-to-suit, the other with tenant improvements to be completed by the new owner), this property generates a substantial net operating income (NOI) of $1,299,424. Built in 2008 and 2016, the center sits on a 31.12-acre lot zoned P-C (Planned Commercial District), offering significant future development potential. Two prime development parcels exist: 3 acres in front of a national retailer and Petco, and an additional 4.32 acres adjacent to a JCPenney box. The property enjoys an excellent location in the Omaha-Council Bluffs MSA, just five miles southeast of downtown Omaha, Nebraska, and benefits from high visibility and accessibility with direct access to I-80 (84,732 vehicles per day) and I-29 (42,915 vehicles per day). Its strategic position at the Iowa/Nebraska border places it within easy reach of a large consumer base. Current market-rate rents and strong tenant sales ensure easy tenant replacement should the need arise. Nearby major retailers include Walmart, Menards, Sam's Club, The Home Depot, Target, Dick's Sporting Goods, and Old Navy, further enhancing the property's desirability and potential for continued success. This is a rare opportunity to acquire a high-performing, well-located shopping center with significant upside potential.

Location Insight

City

Council Bluffs

County

Pottawattamie

State

Iowa

Longitude

-95.8778

Latitude

41.2305