This property provides the opportunity to acquire a 17,910 SF retail center in Algona, Iowa, located on heavily traveled Hwy 18 E at a cap rate of 6% on In-Place income. The property is 82% leased with a diverse mix of occupants. Current vacancies and below market rents provide an investor upside over time to increase yield. The retail center is strategically located near a grocery store, upscale restaurant, hotel and auto parts store. Eastland Hill Plaza provides fortuity to purchase a multi-tenant retail center at far below replacement cost with concurrent benefit that accompanies lease up of vacant suites and moving low legacy rents to market.
Date | Event | Price | $/Sqft | Source |
---|---|---|---|---|
Listed For Sale | $895,000 | Farm & Home Services |
Elementary School Bertha Godfrey Elementary School | 1 miles away | PK - 01 | |
Elementary School Lucia Wallace Elementary School | 1.4 miles away | 04 - 05 | |
Middle School Otto B Laing Middle School | 1.5 miles away | 06 - 08 |