2123 Kimball Ave Waterloo, IA 50702
Property profile & analytics
Location Intelligence
Current Use by Public Records
- Starbucks / Cafe & Coffee Shop
Property Details for 2123 Kimball Ave
- Year built
- 2023
- Lot size
- 1.31 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a brand-new, 2,200 square foot Starbucks located at 2123 Kimball Ave, Waterloo, IA 50702. The property sits on a 1.31-acre lot and boasts a 10-year triple-net (NNN) lease with a corporate guarantee from Starbucks (NYSE: SBUX), commencing March 1, 2024, and expiring March 1, 2034. The lease includes 7.5% rent bumps every five years, protecting against inflation. Four (4) and five (5) year lease options are also included. The asking price is $2,445,856, representing a price per square foot of $1,111.75 and a 6.25% cap rate based on a current NOI of $152,866. Built in 2023, this single-story building benefits from high visibility due to its location at a high-traffic intersection (22,000+ vehicles per day). Waterloo's population of 66,000, combined with nearby schools and employers, ensures consistent traffic. The property's strong performance, exceeding initial sales projections and ranking in the top 15% of nationwide locations, further solidifies its investment potential. Landlord responsibilities are limited to roof and structure maintenance. This is a rare opportunity to acquire a high-performing, low-risk investment with a globally recognized brand in a strong market. The tenant's BBB+ S&P credit rating enhances the investment's security and access to financing.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Waterloo
- County
- Black Hawk
- State
- Iowa
- Longitude
- -92.357
- Latitude
- 42.4705
