Your email has been sent.
Pine Tree Plaza|94% Occupied|5.7 Years WALT 700 11th St SW 42,516 SF 94% Leased Retail Building Spencer, IA 51301 $7,420,830 CAD ($174.54 CAD/SF) 7% Cap Rate



Investment Highlights
- Prime Location | Situated on the main retail corridor in Spencer, providing unique tenant appeal and long-term real estate value.
- Recent Capital Improvements | Parking lot was fully replaced in 2023, West Wing Roof replaced in 2025, East Wing Roof replaced in 2023
- Value-Add Potential | Upside opportunity through leasing two vacant units totaling 2,560 Sqft.
- High Credit Anchor Tenant | TJ Maxx committed to a long-term lease at the site, and has an S&P Credit Rating of A and over 1,300 locations nationwide
- Strong Tenancy Mix | 80% of the GLA is Occupied by National Tenants (TJ Maxx, Maurices, Cricket Wireless, Rent-A-Center).
- Recently Extended Leases | Four Tenants Recently Extended Their Leases, Demonstrating Their Commitment to the Site.
Executive Summary
High Credit Anchor Tenant | TJ Maxx committed to a long-term lease at the site, and has an S&P Credit Rating of "A" and over 1,300 locations nationwide.
Only TJ Maxx within a 50-Mile Radius | TJ Maxx experiences over 295,000+ Annual Visitors, per Placer.ai.
Minimal Landlord Responsibilities | All tenants operate under NNN leases, limiting landlord exposure to expenses.
Recent Capital Improvements | Parking lot was fully replaced in 2023, West Wing Roof replaced in 2025, East Wing Roof replaced in 2023, and TJ Maxx Roof partially replaced in 2025.
Strong Tenancy Mix | 80% of the GLA is Occupied by National Tenants (TJ Maxx, Maurices, Cricket Wireless, Rent-A-Center).
Value-Add Potential | Upside opportunity through leasing two vacant units totaling 2,560 Sqft.
Strong Remaining Lease Term | Over 5.7-Years of WALT with Multiple Options & Rental Increases
Recently Extended Leases | Four Tenants Recently Extended Their Leases, Demonstrating Their Commitment to the Site.
Excellent Traffic & Visibility | 9,038+ vehicles per day with strong visibility and ease of access.
Shadow Anchored By a Walmart Supercenter | Walmart experiences over 1.6M+ Annual Visitors, per Placer.ia, and is the only Walmart within a 20-mile radius.
Positioned along Spencer's Primary Retail Corridor | Walmart, Menards, Bomgaars, Hobby Lobby, Dunham's Sports, Shoe Sensation, JC Penny, Jersey Mike's, Taco Bell, McDonald's, etc.
Property Facts
Amenities
- Dedicated Turn Lane
- Freeway Visibility
- Security System
- Signage
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
Check Into Cash is a privately held financial services company headquartered in Cleveland, Tennessee. Founded in 1993 by W. Allan Jones, the company pioneered the payday lending industry and grew into one of the largest short-term lending providers in the United States. Check Into Cash offers payday loans, installment loans, title loans, and lines of credit, along with ancillary services such as check cashing, bill payment, and money transfers. The company operates both online and through retail locations, serving customers in multiple states. In recent years, Check Into Cash became part of Community Choice Financial Inc., expanding its reach and service offerings. With decades of experience, the firm continues to focus on providing regulated, small-dollar credit solutions to consumers facing short-term financial needs.
Founded in 1999, Cricket Wireless operates as a prepaid wireless telecommunications provider in the United States. Originally established by Leap Wireless, the brand focused on no-contract mobile services designed for cost-conscious consumers. In 2014, Cricket Wireless became a wholly owned subsidiary of AT&T following AT&T’s acquisition of Leap Wireless. The acquisition integrated Cricket into AT&T’s national network infrastructure while maintaining Cricket as a distinct prepaid brand. Cricket provides voice, text, and data services using AT&T’s wireless network, including access to 4G LTE and 5G coverage where available. The company distributes services through company-operated and authorized retail locations, as well as online channels. Over time, Cricket expanded from its initial regional footprint to a nationwide presence supporting consumer prepaid plans and device offerings.
- LA Nails
- Services
- -
- -
- -
- Maurices
- Retailer
- -
- -
- -
Monterrey Mexican Restaurant features authentic and traditional Mexican dishes. It is a family owned and operated business. Our distinctive menu offers classics such as our famous tacos, burritos, enchiladas and sizzling fajitas. Our combination plates along with newest recipes are by far the best you can find anywhere. There is one thing that Monterrey is especially known for and that is our famous Margaritas! Monterrey pioneered some of the finest Margaritas in the last decade. Our Margaritas have become a “must taste” for new visitors. Also, do not forget to check our large selection of Super Premium Tequilas. The décor of our restaurants radiates warmth and relaxation. The Spanish-influenced architecture and traditional Mexican touches. Soft lighting and large booths set the stage for family and friends. You will feel as if you are dining in the heart of Monterrey, Mexico. Amenities at most of our locations include a full service bar, patio, dining room and catering. Monterrey’s is
Rent-A-Center is a national rent-to-own retail chain offering furniture, home appliances, consumer electronics, and computers through flexible rental-purchase agreements. Founded in 1973 and incorporated in 1986, the company operates thousands of locations across the United States, Puerto Rico, and Mexico. Rent-A-Center serves consumers seeking access to durable household goods without traditional credit requirements, offering short-term rental flexibility with ownership options. Stores are typically located in neighborhood retail centers and along major arterial corridors, serving value-oriented and workforce-housing markets. The company is a subsidiary of Upbound Group, Inc., a publicly traded organization listed on NASDAQ. Rent-A-Center’s operating model combines in-store retail sales, logistics and delivery operations, and local service teams. In metropolitan areas such as Atlanta, the brand maintains numerous store locations to support dense, neighborhood-based customer demand.
- Smoke, E-Cigs and Vapes
- Retailer
- -
- -
- -
- Spencer Mattress
- Retailer
- -
- -
- -
T.J. Maxx traces its origins to 1976 when Bernard Cammarata founded the first store in Massachusetts. The company operates as a subsidiary of The TJX Companies, which oversees multiple retail chains including Marshalls and HomeGoods. The business model focuses on purchasing excess inventory and overstocked items to provide discounted pricing across various product categories. Over the decades, the company expanded its footprint internationally while maintaining its core off-price retail strategy across all brands.
- Tobacco Vape & E-Cig
- Retailer
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
Finance and Insurance | - | - | - | ||
|
Information | - | - | - | ||
| LA Nails | Services | - | - | - | ||
| Maurices | Retailer | - | - | - | ||
| Monterrey Mexican Restaurant | Accommodation and Food Services | - | - | - | ||
|
Rental and Leasing Services | - | - | - | ||
| Smoke, E-Cigs and Vapes | Retailer | - | - | - | ||
| Spencer Mattress | Retailer | - | - | - | ||
|
Retailer | - | - | - | ||
| Tobacco Vape & E-Cig | Retailer | - | - | - |
Space Availability
- Space
- Size
- Space Use
- Position
- Available
$2,000 per month. Includes everything but utilities. National neighboring tenants!
$2,000 per month. Includes everything but utilities. National neighboring tenants!
| Space | Size | Space Use | Position | Available |
| 1 | 1,280 SF | Retail | End Cap | Now |
| 9 | 1,280 SF | Retail | End Cap | Now |
1
| Size |
| 1,280 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
9
| Size |
| 1,280 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
1
| Size | 1,280 SF |
| Space Use | Retail |
| Position | End Cap |
| Available | Now |
$2,000 per month. Includes everything but utilities. National neighboring tenants!
9
| Size | 1,280 SF |
| Space Use | Retail |
| Position | End Cap |
| Available | Now |
$2,000 per month. Includes everything but utilities. National neighboring tenants!
Nearby Major Retailers
Property Taxes
| Parcel Number | 9637-24-226-005 | Improvements Assessment | $3,449,848 CAD |
| Land Assessment | $792,770 CAD | Total Assessment | $4,242,618 CAD |
Property Taxes
Presented by
Pine Tree Plaza|94% Occupied|5.7 Years WALT | 700 11th St SW
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.


