406 Fremont StShenandoah, IA 51601
- Retail properties
- 632 SF
Property Details for 406 Fremont St
- Year built
- 2022
- Lot size
- 0.30 AC
- Property size (Sq ft)
- 632 SF
- Property type
- Retail properties
- Property subtype
- Other retail properties
Description
This exceptional investment opportunity presents a fee-simple ownership of a Scooter's Coffee drive-thru located at 406 S Fremont St, Shenandoah, IA 51601. Built in 2022, this 632 square foot building sits on a 0.3-0.4 acre lot and boasts a 7.01% cap rate with a strong NOI of $31,200. The property benefits from a 10-year absolute NNN ground lease (commencing February 28, 2022, and expiring February 27, 2032), with a remaining term of approximately 7.3 years. The lease includes rent bumps, specifically four 5-year options with a 10% increase each time. The tenant, a franchisee operating over 40 locations, is responsible for all property maintenance, including roof repairs, offering a truly passive investment. The property enjoys excellent visibility and high traffic counts on S. Fremont Street, exceeding 8,000 vehicles per day. Its strategic location within the Orchard Corners Shopping Center, alongside established anchors like Hy-Vee, Tractor Supply Co., and McDonald's, further enhances its appeal and potential for sustained growth. This is a rare opportunity to acquire a below-market-rent Scooter's Coffee location with significant upside potential. The property's strong tenant, long-term lease, and prime location make it an ideal addition to any investment portfolio.
Location Insight
- City
- Shenandoah
- County
- Fremont
- State
- Iowa
- Latitude
- 40.7624
- Longitude
- -95.3855
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