2029 5th S Ave Fort Dodge, IA 50501

This exceptional investment opportunity presents a fee-simple ownership of a CVS Pharmacy located at 2029 5th Ave S, Fort Dodge, IA 50501. The property boasts a 13,244 square foot building on a 1.72-acre lot, constructed in 2013. Currently operating under a 25.3-year absolute NNN lease with a corporate guarantee, the lease commenced October 16, 2015, and expires January 31, 2041, leaving a substantial 16.2 years remaining. The asking price is $3,608,730, representing a price per square foot of $272.48 and a 5.75% cap rate. The property generates a strong net operating income (NOI) of $207,502 annually. Rent bumps are structured with options for flat increases or adjustments based on fair market value. The lease includes ten five-year renewal options. This prime retail location sits on a hard corner with excellent visibility, experiencing over 192,000 annual visits, a 38.4% year-over-year increase. The property benefits from its proximity to a 200-bed hospital, major retailers, and a significant planned retail redevelopment. The surrounding area includes numerous schools, manufacturing facilities, and recreational amenities, contributing to a robust and stable local economy. This is a truly passive investment with zero landlord responsibilities.