1850 Blairs Ferry RdHiawatha, IA 52233

Property Details for 1850 Blairs Ferry Rd

Year built

2023

Lot size

0.95 AC

Property size (Sq ft)

4,600 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a brand-new, 4,600 square foot auto shop in Hiawatha, Iowa, currently operating as a Brakes Plus location. The property boasts a 20-year absolute triple-net (NNN) lease with a prominent national tenant, Brakes Plus, backed by the corporate guarantee of Mavis Tire Express Services Corp., a leading automotive service company with over 2,000 service centers nationwide. The lease features a 6.00% cap rate and a built-in rent escalator of 5% every five years, ensuring consistent income growth. The property sits on a 0.95-acre lot and was constructed in 2023. The lease includes six, five-year renewal options, providing long-term stability and predictable cash flow. Located at 1850 Blairs Ferry Rd NE, Hiawatha, IA 52233, this property benefits from its position within the Cedar Rapids MSA, a vibrant market with a population exceeding 115,353 residents. The property's strong tenant, Brakes Plus, offers a wide range of automotive services, including brake repair, tire rotation, oil changes, and more, catering to a substantial customer base. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with significant long-term potential. The asking price is $2,916,667, with a price per square foot of $634.06 and a Net Operating Income (NOI) of $175,000. The property is currently 100% occupied.

Location Insight

City

Hiawatha

County

Linn

State

Iowa

Latitude

42.0509

Longitude

-91.6907

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