3825 Westdale PkwyCedar Rapids, IA 52404

Property Details for 3825 Westdale Pkwy

Year built

2017

Lot size

0.49 AC

Property size (Sq ft)

18,401 SF

Property type

Retail properties

Property subtype

Lifestyle 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).

Location Insight

City

Cedar Rapids

County

Linn

State

Iowa

Latitude

41.9499

Longitude

-91.7187

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