Property profile

1501 1St Ave E Newton, IA 50208

FOR SALE
Grocery and convenience stores
Property ID
US25-2140582
66,500 SF 14.22 ac lot Built 2007
Entity Owned Absentee Owner Free & Clear
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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

Current use

Occupant on record · Public records
  • Cafe & Coffee Shop
  • Post Office
  • Restaurant
  • Bank Credit Union
  • Pharmacy

Location

1501 1St Ave E Newton, IA 50208
Newton metro Census 40400 DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA
Google Maps

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

Zoning & alternative use

Top alternative use upside
Industrial (general) $3.6M +25.7%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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