1212 17th Ave De Witt, IA 52742-1083
- Office buildings
- 6,070 SF
- 0.96 lot acres
Current Use by Public Records
- Office buildings
Property Details for 1212 17th Ave
- Year built
- 2003
- Construction
- FRAME
- Lot size
- 0.96 lot acres
- Property size
- 6,070 SF
- Property type
- Office buildings
- APN
- 2009616025
- APU
- 2009616025
Description
This exceptional investment opportunity presents a single-tenant, 6,108 square foot traditional office building located at 1212 17th Ave, DeWitt, IA 52742. Built in 2003, the property boasts a 100% occupancy rate with a remaining lease term of 8 years. The tenant is a branch of the USDA, providing exceptional security and stability due to the federal government lease guarantee. The current asking price is $959,325, representing a compelling price per square foot of $157 and an attractive 8.75% cap rate. The annual net operating income (NOI) stands at $83,941. Rent increases annually based on the Consumer Price Index (CPI), offering built-in inflation protection. The property benefits from its strategic location within a dense retail corridor, surrounded by national tenants such as McDonald's, Family Dollar, Pizza Hut, and a Kwik Gas Station. Its proximity to the Quad Cities metropolitan area, the third largest in Iowa, further enhances its value. Clinton County's robust agricultural sector, with over 402,000 acres of farmland and over $339 million in annual agricultural product sales (2017 data), underscores the property's strategic importance. This is a rare opportunity to acquire a secure, high-performing asset with significant long-term growth potential. The building is a single-story structure.
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
- De Witt
- County
- Clinton
- State
- Iowa
- Longitude
- -90.5544
- Latitude
- 41.8271
- CBSA code
- 17540
- CBSA name
- CLINTON, IA MICROPOLITAN STATISTICAL AREA
