1300 Lake AveStorm Lake, IA 50588
- Retail properties
- 3,499 SF
Property Details for 1300 Lake Ave
- Year built
- 1997
- Construction
- WOOD
- Lot size
- 0.98 AC
- Property size (Sq ft)
- 3,499 SF
- Property type
- Retail properties
- Property subtype
- Turn key restaurants
- APN
- 10-34-184-007
- APU
- 1034184007
Description
This exceptional investment opportunity presents a thriving Abelardo's Mexican Fresh restaurant in Storm Lake, IA. Located at 1300 Lake Ave N, this 3,499 square foot, Class A, single-tenant property sits on a 0.99-acre lot and boasts a strong 7.64% cap rate based on a $42,000 NOI. The property features a Net Lease (NNN) agreement with a franchisee tenant, ensuring minimal landlord responsibilities. The lease commenced February 1, 2023, and extends to March 31, 2031, with two 5-year renewal options and built-in rent bumps. The building, constructed in 1997, underwent renovations in 2023. Situated in a prime retail corridor with high daily traffic counts (8,000) and proximity to major retailers like HyVee and Walmart, this property offers exceptional stability and growth potential. The asking price is $550,000, translating to $157.19 per square foot. The property benefits from a 100% occupancy rate and a strong tenant with over 50 locations across six states. This is a rare opportunity to acquire a well-established, high-performing QSR investment in a desirable location. The property's strong financials, favorable lease terms, and prime location make it an attractive investment for discerning buyers.
Location Insight
- City
- Storm Lake
- County
- Buena Vista
- State
- Iowa
- Latitude
- 42.6549
- Longitude
- -95.2014
- CBSA code
- 44740
- CBSA name
- STORM LAKE, IA MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at support@realmo.com and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at support@realmo.com.