157 Collins NE Rd Cedar Rapids, IA 52402-3201

Property Details for 157 Collins NE Rd

Year built

2016

Lot size

0.43 lot acres

Property size

2,503 SF

Property type

Turn key restaurants

APN

14-02-4-26-008-0-0000

APU

140242600800000

Description

This exceptional investment opportunity presents a fee-simple interest in two single-tenant retail buildings totaling 7,184 square feet, leased to Five Guys and Jared. Located in Cedar Rapids, Iowa, on a 0.94-acre lot at 157 Collins Rd NE, this property boasts a prime location in a high-traffic commercial corridor with 34,000 vehicles per day. Both tenants operate under NNN ground leases, offering a passive investment with built-in rent growth. The leases include a 10% rent increase every five years, ensuring consistent returns. Built in 2016/2017, the property benefits from its position within a thriving retail area, surrounded by high-performing national chains. The strong tenant credit rating, 100% occupancy, and an 8% cap rate on the $3,231,000 asking price, along with a substantial net operating income (NOI) of $258,500, make this a compelling investment. The property's location within a densely populated area, with significant population and household growth projected through 2027, further enhances its long-term value. The easy accessibility via two signalized intersections adds to its appeal. This is a rare opportunity to acquire a stable, high-performing retail investment with significant upside potential. Lease options are available.

Location Insight

City

Cedar Rapids

County

Linn

State

Iowa

Longitude

-91.6248

Latitude

42.0272

CBSA code

16300

CBSA name

CEDAR RAPIDS, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments