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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

Prime Location | Situated on the main retail corridor in Spencer, providing unique tenant appeal and long-term real estate value.
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

Sale Type
Investment
Property Type
Retail
Building Size
42,516 SF
Building Class
C
Year Built
1999
Price
$7,420,830 CAD
Price Per SF
$174.54 CAD
Cap Rate
7%
NOI
$519,453 CAD
Percent Leased
94%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.11
Lot Size
9.00 AC
Zoning
C-2 - Commercial Highway Retail
Parking
201 Spaces (4.72 Spaces per 1,000 SF Leased)
Frontage
1,433’ on 11th St. SW

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
  • Finance and Insurance
  • -
  • -
  • -

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.

  • Information
  • -
  • -
  • -

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
  • Accommodation and Food Services
  • -
  • -
  • -

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

  • Rental and Leasing Services
  • -
  • -
  • -

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
  • -
  • -
  • -
  • 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
  • 1
  • 1,280 SF
  • Retail
  • End Cap
  • Now

$2,000 per month. Includes everything but utilities. National neighboring tenants!

  • 9
  • 1,280 SF
  • Retail
  • End Cap
  • Now

$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!

Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
40/100

Nearby Major Retailers

Hy-Vee
Northwest Bank
U.s. Bank

Property Taxes

Property Taxes

Parcel Number
9637-24-226-005
Land Assessment
$792,770 CAD
Improvements Assessment
$3,449,848 CAD
Total Assessment
$4,242,618 CAD
  • Listing ID: 39738871

  • Date on Market: 2026-02-19

  • Last Updated:

  • Address: 700 11th St SW, Spencer, IA 51301

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