1015 18Th St Centerville, IA 52544
- Lifestyle centers
- 39,300 SF
- 3.97 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 1015 18Th St
- Lot size
- 3.97 lot acres
- Property size
- 39,300 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
Lake Center Mall, located at 1015 N 18th St, Centerville, IA 52544, presents a compelling net lease investment opportunity. This 39,300 square foot shopping center sits on a 3.97-acre lot and boasts an 83.5% occupancy rate, generating a strong net operating income (NOI) of $265,000. The asking price is $2,950,000, representing a price per square foot of $75.06 and an attractive cap rate of 8.98%. The property features a diverse tenant mix including Cinema 4 Theater, River Hills Community Health Center, Indian Hills Community College, Kinetic Edge Physical Therapy, AeroCare, Subway, and an ATM operated by Iowa Trust & Savings Bank. This well-positioned neighborhood shopping center benefits from high visibility and a strong local presence. The property's NNN lease structure minimizes landlord responsibilities, making it an ideal investment for passive income seekers. The property is situated in Appanoose County, Iowa. This offering presents a rare opportunity to acquire a stable, income-producing retail asset in a desirable location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Centerville
- County
- Appanoose
- State
- Iowa
- Longitude
- -92.86799933
- Latitude
- 40.74366191
