719 Richmond Ave Ottumwa, IA 52501-4155
Property profile & analytics
719 Richmond Ave, Ottumwa, IA 52501-4155
- Drive through restaurants
- 2,383 SF
- 0.34 lot acres
Property ID
US25-1494951
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
- Drive through restaurants
Property Details for 719 Richmond Ave
- Year built
- 1982
- Lot size
- 0.34 lot acres
- Property type
- Drive through restaurants
- APN
- 7416930026000
- APU
- 7416930026000
Description
This exceptional investment opportunity presents a fee-simple interest in a thriving Scooter's Coffee location in Ottumwa, Iowa. The 2,383 square foot building, constructed in 1982 and situated on a 0.34-acre corner lot at 719 Richmond Ave (52501), benefits from high visibility and significant traffic flow due to its proximity to major roadways like US 34. The property is part of a vibrant commercial area, surrounded by nationally recognized brands including McDonald's, Walmart, and others, ensuring consistent customer traffic. The absolute NNN lease, with a franchisee tenant, provides a passive income stream with minimal landlord responsibilities. The current lease, commencing March 22, 2023, and expiring March 31, 2038, offers a remaining term of 13.4 years, with four, five-year renewal options, each including a 2% annual rent increase. The current annual net operating income (NOI) is $68,666, representing a 6.24% cap rate on the $1,100,000 asking price ($461.60/sq ft). This investment offers a strong return, long-term stability, and minimal management burden, making it an attractive opportunity for discerning investors. The tenant, a multi-unit franchisee, demonstrates a commitment to the brand and the location, further enhancing the investment's security. The property's location and the strength of the Scooter's Coffee brand contribute to its high potential for continued success and appreciation.
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
- Ottumwa
- County
- Wapello
- State
- Iowa
- Longitude
- -92.4322
- Latitude
- 41.0075
- CBSA code
- 36900
- CBSA name
- OTTUMWA, IA MICROPOLITAN 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
2022
$12,792
$37,460
$435,420
$472,880
-
$37,460
$435,420
$472,880
