3533 Main St Keokuk, IA 52632

Property Details for 3533 Main St

Year built

2014

Construction

FRAME

Lot size

1.00 lot acres

Property size

1,680 SF

Property type

Warehouses

APN

04-45-21-14-378-0170

APU

44521143780170

Description

This exceptional Keokuk, IA shopping center presents a compelling value-add investment opportunity. The 22,200 square foot, single-story building, constructed in 1997 and situated on a 13.69-acre lot, boasts 100% occupancy with five tenants, including two credit tenants. The property features a recently resurfaced parking lot with 120 spaces, providing ample convenience for shoppers and employees. Located at 3533 Main St, the center benefits from high visibility on a major thoroughfare with 12,100 vehicles passing daily, providing excellent access to customers. The current Net Operating Income (NOI) is $65,085, with a pro-forma NOI of $88,723, reflecting a potential for significant revenue growth. The property is zoned C-Commercial, allowing for flexibility in future development. The current lease type is NNN, with a five-year lease term and two years remaining on the current agreements. Rent bumps are included in the lease agreements. The asking price is $850,000, representing a current cap rate of 7.66% and a pro-forma cap rate of 10.44%. This investment offers a strong foundation for long-term growth and profitability in the thriving commercial landscape of Southeast Iowa. The property's size and location provide significant potential for future expansion and diversification of revenue streams.

Location Insight

City

Keokuk

County

Lee

State

Iowa

Longitude

-91.4073

Latitude

40.423

CBSA code

22800

CBSA name

FORT MADISON-KEOKUK, IA-IL-MO MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments