4730 Sergeant Rd 30,000 SF Retail Building Sioux City, IA 51106 $8,807,015 CAD ($293.57 CAD/SF) 6.75% Cap Rate

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.
The Property is secured by a passive net lease backed by the investment grade corporate credit of Best Buy Co., Inc. (NYSE: BBY), which carries an S&P rating of “BBB+”. Best Buy is a $15.8 billion market cap retailer that generated $41.7 billion in revenue in fiscal 2026, with earnings up 15% year over year. The Sioux City store ranks among the top 30% of Best Buy locations in Iowa per Placer.ai. The Landlord recently replaced both the roof and HVAC system, the two largest capital items in a single-tenant big-box asset. With the roof remaining covered under a long-term warranty, the offering provides predictable, management-free cash flow with minimal near-term capital exposure.
The surrounding Sergeant Road corridor functions as the retail epicenter of a three-state trade area, with no comparable retail concentration for nearly 100 miles in any direction. Lakeport Commons and the adjacent 1.2 million square foot Southern Hills Mall, the only enclosed regional mall within a 90-mile radius, command more than 10 million annual visits.
A deep co-tenancy roster anchored by Walmart, Target, Lowe’s, Scheels, Kohl’s, and Hy-Vee (which alone attracts more than 1 million annual visits) drives consistent daily traffic, while the two centers together account for approximately 60% of all retail in the Sioux City market. Annual household incomes exceeding $105,000 within a one-mile radius provide purchasing power rarely found in a market of this size, reinforcing the Property’s underlying retail fundamentals.
Sioux City is the undisputed hub for employment, retail, and healthcare across northwest Iowa, northeast Nebraska, and southeast South Dakota, anchored by a food-processing economy that is largely insulated from economic cycles — and supported by two major regional employers: the world’s largest beef processing plant (Tyson Foods) and the world’s second-largest pork processing facility (Seaboard Triumph Foods’ $330+ million campus). These facilities reinforce Sioux City’s role as a critical employment and logistics center, supporting consistent consumer demand throughout the trade area. Site Selection magazine has named the Siouxland MSA the #1 metro in the nation for economic development in its population category twelve times since 2007, most recently in March 2026. The result is a rare net lease investment opportunity combining investment grade credit, a proven 20+ year operating history, a newly improved building, and the dominant retail location in a stable, growing market with no competitive alternative for nearly 100 miles.