3475 Westdale Dr SW | Cedar Rapids, IA 52404
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3475 Westdale Dr SW
Cedar Rapids, IA 52404
Burlington · Retail Property For Sale
Executive Summary
Cushman & Wakefield Iowa Commercial Advisors is pleased to offer to investors an excellent opportunity to purchase a stand-alone NNN Burlington Coat Factory. Originally a 15-year lease, with 6.5 years remaining, and a rental increase in 3 years of 10%.
Westdale is strategically located on Edgewood Road with seamless access from Highway 30 and Interstate I-380, giving investors the opportunity to purchase an infill shopping center in a growing and positive area of the Corridor.
Originally built in 1979, Westdale was originally comprised of a 900,000 SF traditional two-story enclosed Shopping Mall. In 2014, the mall went through a transformative redevelopment. Now boasting five major big box retail buildings and numerous development pads across 40 acres, Westdale is a vibrant hub of commerce and community. With a diverse tenant mix, including PetSmart, Ross Dress for Less, Michael’s, Burlington, JCPenney, GSA (VA Clinic) and more, the center is currently 100% occupied, drawing from local, regional, and national markets.
Westdale is strategically located on Edgewood Road with seamless access from Highway 30 and Interstate I-380, giving investors the opportunity to purchase an infill shopping center in a growing and positive area of the Corridor.
Originally built in 1979, Westdale was originally comprised of a 900,000 SF traditional two-story enclosed Shopping Mall. In 2014, the mall went through a transformative redevelopment. Now boasting five major big box retail buildings and numerous development pads across 40 acres, Westdale is a vibrant hub of commerce and community. With a diverse tenant mix, including PetSmart, Ross Dress for Less, Michael’s, Burlington, JCPenney, GSA (VA Clinic) and more, the center is currently 100% occupied, drawing from local, regional, and national markets.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
40,703 SF
Building Class
B
Year Built
2016
Price
£5,166,298
Price Per SF
£127
Net Initial Yield
6.75%
NOI
£348,725
Tenancy
Single
Number of Floors
1
Building FAR
0.68
Lot Size
1.38 AC
Zoning
S-MR - Suburban Mixed Use Regional Center
PROPERTY TAXES
| Parcel Number | 13364-76020-00000 | Improvements Assessment | £2,705,361 |
| Land Assessment | £432,382 | Total Assessment | £3,137,743 |
PROPERTY TAXES
Parcel Number
13364-76020-00000
Land Assessment
£432,382
Improvements Assessment
£2,705,361
Total Assessment
£3,137,743
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