511 1st Ave, Perry, IA 50220-1802

Perry Plaza, a multi-tenant retail center totaling 41,455 square feet, presents a compelling investment opportunity in Perry, Iowa. Located at 511 1st Ave, this property boasts a strong tenant mix, including Domino's Pizza, and benefits from a highly visible location off Highways 144 and 141. The seven-acre lot houses six individual units, currently occupied by five businesses. One 1,000 square foot space is available, previously used as a hair salon. Built in 1976, the center offers a solid foundation for continued growth and profitability. The asking price is $2,000,000, translating to $48.25 per square foot. The property's strategic location near other established retailers, such as Tractor Supply and Domino's Pizza, and the recent completion of a new Kwik Star nearby, ensures high visibility and foot traffic. The strong anchor tenant and low cost per square foot contribute to a robust net operating income (NOI) when fully leased. This property is situated approximately 25 miles northwest of Des Moines, offering access to a larger regional market. The property's combination of established tenants, prime location, and development potential makes it an attractive investment for discerning buyers seeking a stable and growing retail portfolio. The property offers a unique opportunity to acquire a well-positioned retail center with immediate income potential and future upside.