327 Story St Boone, IA 50036-3531

Property Details for 327 Story St

Year built

2019

Lot size

0.50 lot acres

Property size

544 SF

Zone code

INC

Property type

Drive through restaurants

APN

88426281382049

APU

88426281382049

Description

This exceptional investment opportunity presents the fee simple ownership of a thriving Scooter's Coffee location in Boone, Iowa. Built in 2019, this 544 square foot QSR/Fast Food establishment sits on a 0.49-acre corner lot at 327 Story St, 50036, boasting excellent visibility and high traffic counts due to its strategic placement on a major thoroughfare. The property is currently operating at 100% occupancy under a sale-leaseback agreement with a franchisee. The absolute NNN lease features a 10-year initial term with four, five-year renewal options, each incorporating a 2% annual rent increase, providing a strong hedge against inflation. The current annual net operating income (NOI) stands at $75,000, yielding a 6.25% cap rate on the $1,200,000 asking price. The lease is guaranteed by the franchisee, minimizing landlord responsibilities and offering a low-management, high-return investment. Surrounding national brands include Walgreens, Subway, Taco John's, Circle K, U.S. Bank, Starbucks, Dollar General, and McDonald's, further enhancing the location's appeal and drawing significant consumer traffic. This is a rare opportunity to acquire a well-established, high-performing asset in a prime location with a strong, nationally recognized tenant and a proven business model. The property offers a compelling combination of stability, growth potential, and passive income generation. The sale includes fee simple ownership.