830 Oak St Iowa Falls, IA 50126-9504
- Retail space
- 13,740 SF
- 2.33 lot acres
Current Use by Public Records
- Retail space
Property Details for 830 Oak St
- Year built
- 2017
- Construction
- FRAME
- Lot size
- 2.33 lot acres
- Property size
- 13,740 SF
- Property type
- Retail space
- APN
- 892019300009
- APU
- 892019300009
Description
This fee-simple, 13,700 square foot shopping center in Iowa Falls, IA, presents a compelling value-add opportunity. Located at 830 S Oak St, 50126, this 2-tenant property boasts a strong 100% occupancy rate, generating a Net Operating Income (NOI) of $106,642 and an 8.24% cap rate. The asking price is $1,294,000. Built in 2017, the center sits on a sizable 2.33-acre lot, offering significant potential for future expansion or redevelopment. One tenant, Dollar Tree, recently signed a three-year lease extension at a below-market rate of $5.71 per square foot, with a 120-day termination clause for both landlord and tenant, creating substantial upside potential. The second tenant is under lease for several more years. The property benefits from its prime location, shadowed by a Walmart and situated near Hy-Vee grocery, Hansen Family Hospital (a Mercy One affiliate), Shoe Sensation, and Kwik Trip. The building is in excellent condition, priced below replacement cost at $94 per square foot, and includes a roof warranty extending until 2033. This investment offers a blend of stable income and significant upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Iowa Falls
- County
- Hardin
- State
- Iowa
- Longitude
- -93.2612
- Latitude
- 42.5037
