3825 Westdale Pkwy Cedar Rapids, IA 52404
- Lifestyle centers
- 18,401 SF
- 0.49 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 3825 Westdale Pkwy
- Year built
- 2017
- Lot size
- 0.49 lot acres
- Property size
- 18,401 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a single-tenant, 18,401-square-foot PetSmart shopping center in Cedar Rapids, Iowa. Located at 3825 Westdale Pkwy SW, this property boasts a strong 7.00% cap rate and a Net Net Net (NNN) lease structure, minimizing landlord responsibilities. The building, constructed in 2017 on a 0.49-acre lot, is situated within the vibrant Westdale shopping center, benefiting from high visibility and convenient access to major roadways, including Highway 30 and Interstate I-380. The current lease with PetSmart has a remaining term of approximately 2.8 years, extending to September 7, 2027, with favorable rent bump options: a 12.5% increase in the first option and subsequent 5.58% increases in following options. The property features a 100% occupancy rate, generating a Net Operating Income (NOI) of $290,031. The property's zoning is S-MR, and the parcel number is 13364-76045-00000. This is a rare opportunity to acquire a well-performing, single-tenant retail property in a thriving location with significant upside potential. The asking price is $4,143,312. The property is a one-story building, part of a larger redevelopment project. The Westdale shopping center includes other major retailers such as Ross Dress for Less, Michael's, Burlington, JCPenney, and a GSA (VA Clinic).
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cedar Rapids
- County
- Linn
- State
- Iowa
- Longitude
- -91.7187
- Latitude
- 41.9499
