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    FOR SALE
    Grocery and convenience stores

    1501 1St Ave E, Newton, IA 50208

    66,500 SF 14.22 ac lot Built 2007
    Entity Owned Absentee Owner Free & Clear
    Property ID
    US25-2140582
    Property summary
    AI-generated overview

    This exceptional commercial development opportunity encompasses approximately 1.22 to 1.44 acres of land strategically located in Newton, Iowa, at 1501 1st Avenue E, zip code 50208. The property is situated in Jasper County and offers excellent visibility and accessibility. The land is divided into two parcels. Parcel A boasts frontage on Highway 6 and is directly adjacent to the Hy-Vee Fast N Fresh store. Parcel B is located immediately behind the Hy-Vee Fast N Fresh, sharing a border with the store's parking lot. This prime location benefits from its proximity to a major grocery retailer, ensuring high traffic volume and excellent exposure for any commercial venture. The site is part of a thriving retail corridor, characterized by good visibility and a signalized intersection, further enhancing its appeal to potential developers. The asking price for this exceptional property is $399,900. This presents a unique chance to establish a business in a high-traffic area with strong existing infrastructure. The property's location adjacent to a well-established Hy-Vee store makes it an ideal site for complementary businesses or retail development.

    Property profile
    Verified
    Property type Grocery and convenience stores
    Use group GROCERY, SUPERMARKET
    Year built 2007
    Total area 66,500 SF
    Lot 14.22 ac (619,423 SF)
    APN 835151013
    UPID US25-2140582
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    $2.79M
    Owner & transaction history
    HYVEE INC
    HYVEE INC
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Industrial (general) $3.6M +25.7%
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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