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31675785
31675784

701 Davis Ave, Corning, IA 50841

AS
IL 475.170243
JLL Chicago | Americas Headquarters
JC
SL3541410
JLL - Irvine (Orange County), California
Listed by JLL Chicago | Americas Headquarters, JLL - Irvine (Orange County), California
$2,480,000
50 days on market
Updated 50 days ago

TS Bank - Corning, IA

Details
Property Type Retail
Sub Type Bank
Net Rentable (SqFt) 6,070
Cap Rate 7.50%
NOI $185,742
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 17
Lease Expiration 01/31/2043
Remaining Term 16
Rent Bumps Yes
Lease Options 3 x 5-Years
Price per SqFt $409
Year Built 1887
Acreage 0.180
Investment Type Net Lease
Lease Commencement 02/13/2026
Ground Lease No
Ownership TS Banking Group

Absolute NNN Bank Branch | 17-Yr Term w/ 2.5% Annual Bumps | $71M Deposits | $98K AHHI | 7.50%

Marketing description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer the opportunity to acquire the fee‑simple interest in a TS Bank branch located at 701 Davis Avenue in Corning, Iowa (the “Property”), or a related portfolio of assets. The investment is secured by a 17‑year absolute NNN lease with approximately 16 years of primary term remaining, featuring zero landlord responsibilities, 2.50% annual rent escalations, and five renewal options, providing durable, long‑term passive income.

TS Bank is a subsidiary of TS Banking Group, a highly regarded, community‑focused banking organization headquartered in Treynor, Iowa. The Corning branch serves as a key financial hub for southwestern Iowa and is supported by the strength of the parent holding company, which reported $437.2 million in assets and $403.5 million in deposits as of December 31, 2025, including operations of the largest Iowa state‑chartered C‑Corp trust department west of Des Moines.

Strategically positioned in Corning, the Adams County seat serving approximately 3,700 residents, the Property sits at the intersection of US Highway 34 and Iowa Highway 148, approximately 55 miles southwest of Des Moines and 110 miles southeast of Omaha. The surrounding trade area benefits from stable demographics, an expanding daytime population, and ongoing downtown revitalization initiatives, including a $3.4 million Main Street Corning redevelopment. This offering provides investors the opportunity to acquire a hands‑off, credit‑backed community bank asset in a market demonstrating long‑term economic stability.

Investment highlights

  • ±16 years of primary lease term remaining
  • Absolute NNN Lease with zero landlord responsibilities
  • $71.2 million in 2025 bank branch deposits
    • 32% CAGR deposit growth over the past two years
  • Corning functions as a retail and service hub for Cass County
  • Sub‑portfolio options available, including 11 total sites across 4 states (IA, IL, ND, WI)
  • $98,000 average household income within a five‑mile radius
  • 28% increase in daytime population within a three‑mile radius
  • 2.50% annual rent escalations

Listing Contacts

AS
IL 475.170243
JLL Chicago | Americas Headquarters
JC
SL3541410
JLL - Irvine (Orange County), California
Listed by JLL Chicago | Americas Headquarters, JLL - Irvine (Orange County), California

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$185,742.00
$15,478.50/mo

Valuation Metrics

0
DSCR
7.49%
Cap Rate
7.49%
ROI

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Additional Information

Name
Aaron Hyde
License
S56270000
Brokerage
JLL
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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