327 Story St Boone, IA 50036-3531
Property profile & analytics
327 Story St Boone, IA 50036-3531
- Drive through restaurants
- 544 SF
- 0.50 lot acres
Property ID
US25-1330170
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Scooter's Coffee / Cafe & Coffee Shop
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.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Boone
- County
- Boone
- State
- Iowa
- Longitude
- -93.8805
- Latitude
- 42.0594
- CBSA code
- 11180
- CBSA name
- AMES, IA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$3,292
$63,600
$450,849
$514,449
-
$63,600
$450,849
$514,449
