919 Gordon Dr Sioux City, IA 51101-1831

Property Details for 919 Gordon Dr

Year built

1988

Lot size

0.59 lot acres

Property size

3,332 SF

Property type

Drive through restaurants

APN

894733202008

APU

894733202008

Description

This exceptional investment opportunity presents a fee-simple ownership of a newly renovated Arby's restaurant located at 919 Gordon Dr, Sioux City, IA 51102. The 3,322 square foot building sits on a 0.85-acre lot and benefits from a hard-corner location at a major intersection, ensuring high visibility and accessibility. The property enjoys a prominent position near the Hard Rock Casino and Hotel, Tyson Events Center, and Sioux City Public Museum, attracting significant foot and vehicle traffic. Further enhancing its appeal is its proximity to I-29, a major highway with an average daily traffic count of 27,400 vehicles. The current tenant, a franchisee operating 188 Arby's units, will sign a new 20-year absolute NNN lease at closing, providing long-term stability and predictable cash flow. The lease includes a 10% rent increase every five years, ensuring consistent growth in rental income. Built in 1988 and renovated in 2021, this single-story building boasts a strong operational history and above-average sales performance. The property's strong location, coupled with the long-term lease and built-in rent escalations, makes this a compelling investment opportunity with a 5.50% cap rate and a net operating income (NOI) of $169,908. The asking price is $3,089,229, translating to $929.93 per square foot. The property is zoned commercial and offers a secure investment with a proven track record.

Location Insight

City

Sioux City

County

Woodbury

State

Iowa

Longitude

-96.3983

Latitude

42.4902

CBSA code

43580

CBSA name

SIOUX CITY, IA-NE-SD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments