1300 Lk Ave Storm Lake, IA 50588-1908

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.