Listed by Pegasus Investments
$6,267,000
STNL Best Buy S&P “BBB+” at Lakeport Commons | 6.75% Cap
Details
APN 884708377018
Property Type Retail
Sub Type Storefront, Shopping Center
Square Footage 30,000
Cap Rate 6.75%
NOI $423,000
Tenancy Single
Brand/Tenant Best Buy
Lease Type NN
Lease Term 26
Lease Expiration 03/31/2031
Remaining Term 4.7
Rent Bumps Yes
Lease Options Two (2) Remaining 5-Year Options
Year Built 2005
Buildings 1
Stories 1
Acreage 3.750
Zoning General Commercial
Parking Spaces 180 spaces
Parking per 1,000 SqFt 6.00
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 03/30/2005
Ground Lease No
Ownership Fee Simple
Retail | 6.75% CAP | 30,000 SqFt
Marketing description
Pegasus Investments Real Estate Advisory Inc. and ParaSell, as exclusive advisors to the Seller, are pleased to present the opportunity to acquire a freestanding Best Buy located in Sioux City, Iowa (the “Property”). The Property is a pad to Lakeport Commons, a Class A open-air lifestyle center widely recognized as the dominant regional shopping center in the market, drawing 4.5+ million annual visitors at the heart of the Siouxland tri-state area’s preeminent regional retail corridor. Best Buy has anchored the area since 2005, exercising two renewal options across a 20+ year tenancy — a tenure that underscores the location’s strong fundamentals.
Investment highlights
- Investment Grade (S&P “BBB+”) Credit I Best Buy has a $15.8 billion market cap and generated $41.7 billion in revenue in fiscal 2026
- Pad To Lakeport Commons I Class A open-air lifestyle center drawing 4.5+ million annual visitors
- Long-Term Commitment to the Site & Recent Lease Extension I Best Buy has operated at this location since 2005 and has exercised three (3) renewal options
- Passive Net Lease I Landlord recently replaced the roof and HVAC system, and the roof remains under a long-term warranty
- Self-Maintained Parcel w/No Co-Tenancy & Limited Restrictions I Property benefits from the synergy of the surrounding shopping center without the typical shopping center restrictions
- Regional Retail Hub of the Tri-State Area I Lakeport Commons and the adjacent Southern Hills Mall anchor the preeminent regional retail corridor for nearly 100 miles
- Strong Big-Box Co-Tenancy in the Trade Area I Target, Lowe’s, Walmart, Sam’s Club, Hy-Vee, Hobby Lobby, Fleet Farm, Kohl’s, Michaels, Boot Barn
- Affluent, Growing Midwest Submarket I $105,000+ annual household incomes within a 1-mile radius
- Sioux City Is The #1 MSA for Economic Development (8 Times Over The Last 10 Years) I
- Site Selection magazine has ranked the tri-state area the #1 MSA for economic development among MSAs under 200,000
Listing Contacts
Listed by Pegasus Investments
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$423,000.00
$35,250.00/mo
Valuation Metrics
0
DSCR
6.75%
Cap Rate
6.75%
ROI
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