1300-1330 E University Ave
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1300-1330 E University Ave
13,833 SF Retail Building Des Moines, IA 50316 £2,974,880 (£215/SF) 8.50% Net Initial Yield
Investment Highlights
- Double Net Lease With Over 5 Years Remaining and Six, 5-Year Renewal Options
- Minimal Landlord Responsibilities
- Hard, Signalized Corner Location Within a Heavily Trafficked Corridor Near Downtown Des Moines
- No Rent Reduction During Recent Extension.
- Corporately Guaranteed Lease
- Situated Just off of Interstate 235, a Main Traffic Artery Into Downtown, Seeing 71,000+ Vehicles Per Day
Executive Summary
1999 Build-to-Suit for Walgreens | 13,833-SF Building on +/-2.09-AC Parcel
Property Facts
Sale Type
Investment
Sale Condition
Design & Build
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,833 SF
Building Class
B
Year Built
1999
Price
£2,974,880
Price Per SF
£215
Net Initial Yield
8.50%
NOI
£252,865
Tenancy
Single
Number of Floors
1
Building FAR
0.15
Lot Size
2.09 AC
Zoning
C-1
Parking
102 Spaces (7.34 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Freeway Visibility
- Pylon Sign
- Signalised Intersection
- Drive Thru
Walk Score®
Very Walkable (74)
PROPERTY TAXES
| Parcel Number | 110-04526000000 | Improvements Assessment | £1,201,449 |
| Land Assessment | £601,927 | Total Assessment | £1,803,375 |
PROPERTY TAXES
Parcel Number
110-04526000000
Land Assessment
£601,927
Improvements Assessment
£1,201,449
Total Assessment
£1,803,375
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1300-1330 E University Ave
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