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2604 2nd Ave 21,672 SF 100% Leased Retail Building Muscatine, IA 52761 $4,827,206 CAD ($222.74 CAD/SF) 7.50% Cap Rate
Executive Summary
- ?Hy-Vee = High Performing Location | 1.25m Annual Customers | Top 39% Foot-Traffic / Est. Sales Top 24% Per Placer.Ai
?- Major Upside Via Mark-To-Market Rental Opportunities Due To Long-Standing Tenants Paying Outdated Rents | Tangible Upside in Renewals + Opportunistic Backfilling
- ?Well-Below Market Rents Avg. Only $13.37/SF | 72% of GLA at Site Since 2004 | 20.6% of GLA at Site Since 2012
?- Latest Lease Signing by T-Mobile in 2023 Represents 45% Rental Increase Compared to Center Average | Recent Lease Signings at Adjacent Centers Exceeded $31/SF Average
- ?25% of GLA Lacks Options – Remaining Tenants have Limited Option Schedules | Major Wait List from National/Regional Inline Tenants
- ?Extremely Low Market Vacancy of 0.3% | Most Retail Supply-Constrained Submarket within Iowa | New Construction Since 2015 Represents 0.45% of Total Supply | High Barriers to Entry due to Limited Developable Land and Restrictive Zoning
- ?Landlord Favorable NNN Lease Structures | Full Reimbursement for Tax, CAM, and Insurance | Minimizes Potential Slippage | Ease of Management
- ?True Irreplaceable Real Estate Along Regions Busiest Route Seeing Over 20,400 | Just Off Signalized Intersection Seeing 31k VPD
- ?True Irreplaceable Real Estate Along Regions Busiest Route Seeing Over 20,400 | Just Off Signalized Intersection
Property Facts
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
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- Retailer
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Cato began in 1946 as a women's fashion retailer founded by Wayland Cato in North Carolina and later became a public company. The company focuses on women's apparel and accessories, with product lines that include plus-size clothing, jewelry, shoes, and other fashion items. Cato's retail portfolio includes Cato, Cato Plus, It's Fashion, It's Fashion Metro, and Versona, giving the business a broad presence across multiple store formats. The company also supports online shopping, combining store-based retail with digital ordering for customers seeking fashion basics and seasonal styles.
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- Retailer
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Dollar Tree began in 1986 as Only $1.00, building on earlier variety-store and toy-retail roots in Virginia. The company later adopted the Dollar Tree name and grew into a value retailer focused on everyday essentials, seasonal merchandise, and discovery-oriented shopping. Current offerings include housewares, cleaning supplies, candy, snacks, food, health and beauty products, toys, gifts, stationery, craft and party supplies, books, and seasonal décor. The business also sells through its digital channels, including case-pack ordering, store pickup, home delivery, and same-day local delivery from participating store locations.
- H&R Block
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- Health Care and Social Assistance
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ImpactLife is a 501(c)3 nonprofit, independent, community blood center, founded in 1974 as Mississippi Valley Regional Blood Center in Davenport, Iowa. Over the years, they have extended into Illinois, Missouri, and Wisconsin, and in 2021, they united under one new name: ImpactLife. This evolution allowed them to bring the organization together under a unified identity that truly embraces their mission.
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- Retailer
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Sally Beauty began in 1964 with the opening of its first store in New Orleans and grew from a small cash-and-carry beauty supply business into a specialty retailer and distributor of professional beauty supplies. The company operates through Sally Beauty Supply and Beauty Systems Group, serving both consumers and beauty professionals with products for hair color, hair care, nails, cosmetics, skin care, fragrances, and salon supplies. Sally Beauty also sells professional and salon-use brands alongside proprietary merchandise, supporting retail shoppers, stylists, and salon owners through the same business model. Over time, the company expanded beyond its early regional roots into a broad North American and international market presence.
- T-Mobile
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| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
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Retailer | - | - | - | ||
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Retailer | - | - | - | ||
| H&R Block | - | - | - | - | ||
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Health Care and Social Assistance | - | - | - | ||
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Retailer | - | - | - | ||
| T-Mobile | - | - | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 0824351014 | Improvements Assessment | $1,855,671 CAD |
| Land Assessment | $1,131,519 CAD | Total Assessment | $2,987,190 CAD |
Property Taxes
Presented by
2604 2nd Ave
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