Listed by Newmark | Orange County - Irvine
$5,638,000
Dollar Fresh Market (Hy-Vee)
Details
Property Type Retail
Sub Type Grocery Store
Square Footage 27,490
Cap Rate 6.85%
NOI $386,235
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 03/03/2037
Remaining Term 10.7
Rent Bumps Yes
Lease Options 6 (5-Year) renewal options
Price per SqFt $205
Year Built 2022
Acreage 3.500
Investment Type Net Lease
Lease Commencement 03/04/2022
Ground Lease No
Ownership Fee Simple
Sale Condition For sale by owner
Retail | 6.85% CAP | 27,490 SqFt
Investment highlights
- CORPORATELY GUARANTEED LEASE WITH HY-VEE, INC. | DOMINANT REGIONAL GROCER | 300+ UNIT OPERATOR IN THE MIDWEST | OVER $13 BILLION IN SALES
- LONG-TERM 15-YEAR ORIGINAL COMMITMENT | 10.8 YEARS OF PRIMARY TERM REMAINING | 5.00% RENTAL INCREASES AT EACH OPTION STARTING WITH OPTION 2 | 6 (5-YEAR) OPTIONS | EXTREMELY PASSIVE ABSOLUTE NNN LEASE
- LOCATED AT THE INTERSECTION OF E 1ST STREET & N MAIN STREET (11,078 VPD) | STRONG VISIBILITY & ACCESS | LIMITED COMPETITION & HIGH BARRIERS TO ENTRY
- CEDAR RAPIDS MSA LOCATION | STABLE POPULATION BASE | PRIMARY RETAIL DESTINATION FOR SURROUNDING RURAL COMMUNITIES | CLOSE PROXIMITY TO MAJOR EMPLOYERS, HOUSING & ENTERTAINMENT COMPLEXES
Listing Contacts
Listed by Newmark | Orange County - Irvine
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$386,234.50
$32,186.21/mo
Valuation Metrics
0
DSCR
6.85%
Cap Rate
6.85%
ROI
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