408 Jefferson Way Indianola, IA 50125-1714
- Drive through restaurants
- 3,314 SF
- 0.99 lot acres
Current Use by Public Records
- Arby's / American Restaurant / Deli
Property Details for 408 Jefferson Way
- Year built
- 1978
- Lot size
- 0.99 lot acres
- Property size
- 3,314 SF
- Property type
- Drive through restaurants
- APN
- 48860000980
- APU
- 48860000980
Description
This exceptional investment opportunity presents a fee-simple interest in a thriving Arby's restaurant located at 408 N Jefferson Way, Indianola, Iowa. The property boasts a 3,314 square foot building on a 0.99-acre lot, completely renovated in 2004. Currently operating under a corporate-guaranteed, absolute NNN lease with a remaining term of 5.1 years (expiring December 31, 2029), this single-tenant property offers significant long-term stability. The tenant, DRM Inc., the second-largest Arby's franchisee, recently exercised a five-year option extension, demonstrating their strong commitment to the location. This lease structure ensures minimal landlord responsibilities. The property enjoys a 7.00% cap rate and a Net Operating Income (NOI) of $76,404. Its prime location on US-65, a major north-south thoroughfare connecting Indianola to Des Moines, provides exceptional visibility and accessibility. The property's proximity to other retail anchors like Walmart and Hy-Vee, along with schools and Simpson College, further enhances its desirability. The Warren County location benefits from being part of the Des Moines metro area, serving a population of nearly 750,000. The asking price is $1,091,000. The property's APN is 48860000980. This is a rare opportunity to acquire a well-established, high-performing retail asset with a strong tenant and excellent location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $960,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,240,000
- 6.5%
- $1,090,000
- 7%
- $1,085,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,080,000
- Geo Method
- $1,285,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $930,000
- Retail
- $935,000
- Mixed-Use
- $1,005,000
- Hospitality
- $865,000
- Educational
- $1,085,000
- Residential Income
- $905,000
- Energy
- $790,000
- Income-Based Land
- $815,000
- Food Service
- $945,000
Location Insight
- Map
- Local Demand
- City
- Indianola
- County
- Warren
- State
- Iowa
- Longitude
- -93.5577
- Latitude
- 41.3641
- CBSA code
- 19780
- CBSA name
- DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA
