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20793103
20793104

3533 Main St, Keokuk, IA 52632

CK
IA B63136000, FL 475.218179
CHASE. Collective
Listed by CHASE. Collective
$799,000
561 days on market
Updated 73 days ago

Endon Center

Details
APN 04-45-21-14-378-0170
Property Type Retail
Sub Type Shopping Center
Square Footage 22,200
Net Rentable (SqFt) 22,200
Units 5
Cap Rate 7.81%
NOI $62,385
Occupancy 100%
Tenancy Multi
Brand/Tenant Sherwin-Williams
Lease Type NNN
Lease Term 5
Remaining Term 2
Rent Bumps Yes
Pro-Forma Cap Rate 11.1%
Pro-Forma NOI $88,723
Price per SqFt $36
Broker Co-Op Yes
Class B
Year Built 1997
Buildings 1
Stories 1
Acreage 13.690
Zoning C - Commercial
Parking Spaces 120 spaces
Parking Per SqFt 5.41
Investment Type Value Add
Tenant Credit Franchisee
Ground Lease No

Stabilized Retail Strip Center in Keokuk, Iowa. 2 Credit tenants

Marketing description

This exceptional 22,200 SF property at 3533 Main St, Keokuk, IA, 52632 is a compelling investment opportunity with a host of standout features. The recently resurfaced parking lot and the newer building in excellent condition showcase the property's commitment to quality and maintenance. With good mechanicals and fantastic visibility on the main corridor through town and the highway leading to Illinois and Missouri, this property is strategically positioned to attract high traffic counts, with 12,100 vehicles per day on Main Street. The property has a fantastic occupancy history, 100% Occupied, with 4 great tenants, including 2 credit tenants, underscores its desirability and strong appeal to businesses and customers alike.

Moreover, the potential to increase rents over time presents a promising opportunity to significantly boost revenue and enhance the property's financial performance. With almost 14 acres of land available, there is ample space to build additional buildings, whether for retail or industrial/storage purposes, offering the potential to further diversify revenue streams and expand the property's income-generating capacity. The abundance of parking adds to the property's allure, providing convenience for tenants and customers and contributing to the property's overall value proposition.

In summary, this property offers a rare combination of stability, growth potential, and versatility, making it an ideal investment for those seeking a secure and lucrative opportunity in the retail and strip center market. Its prime location, strong tenant base, and expansive acreage make it a standout choice for investors looking to capitalize on the thriving commercial landscape of SE Iowa and unlock the property's full potential for long-term success and value creation. This investment opportunity provides a solid foundation for investors to establish or expand their presence in the region and benefit from the property's strong performance, promising outlook, and capacity for sustained growth and profitability.

Investment highlights

- 22,200 SF building with 5 units

- Built in 1997, zoned C- Commercial

- High Visibility with 12,100 vehicles per day on Main St

- 100% occupancy, including 2 Credit Tenants

- 13.69 acres

Listing Contacts

CK
IA B63136000, FL 475.218179
CHASE. Collective
Listed by CHASE. Collective

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$62,385.00
$5,198.75/mo

Valuation Metrics

0
DSCR
7.81%
Cap Rate
7.81%
ROI

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Additional Information

Name
Chase Keller, CCIM
License
B63136000
Brokerage
Better Commercial
Brokerage Phone
319-231-1160
Title
Commercial Broker
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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