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425 E Hwy 6
Iowa City, IA 52240
Goodwill & Advanced Auto · Retail Property For Sale
EXECUTIVE SUMMARY
Prominent leased investment with Goodwill Industries and Advanced Auto Stores adjacent to the Waterfront Hy Vee in Iowa City. Advanced Auto has occupied the 8086 SF suite since 1997, and Goodwill Industries has occupied a portion of the current 28,277 SF suite since 1967 and has expanded into the full space in 2021. Both tenants have been long-term, stable tenants and occupy the entire 36,322 SF. The lease rates are quite reasonable at $11.17 NNN for Advanced Auto Parts and $12.00 NNN for Goodwill. This represents a 7.0 Capitalization Rate with increases as time goes by. Traffic counts on Hwy 6 are 11,150 cars daily. Parking lot is shared with the facing building to the east, providing approximately 125 parking spaces, plus the shared spaces.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
36,322 SF
Year Built
1980
Price
$7,608,645 CAD
Price Per SF
$209.48 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Zoning
CC2
PROPERTY TAXES
| Parcel Number | 1015460002 | Improvements Assessment | $3,428,912 CAD |
| Land Assessment | $1,097,028 CAD | Total Assessment | $4,525,940 CAD |
PROPERTY TAXES
Parcel Number
1015460002
Land Assessment
$1,097,028 CAD
Improvements Assessment
$3,428,912 CAD
Total Assessment
$4,525,940 CAD
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