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700 IA-148 60,000 SF Industrial Building Anita, IA 50020 $3,272,625 CAD ($54.54 CAD/SF) 9% Cap Rate
Investment Highlights
- Fully leased 60,000 SF industrial facility occupied by Pomp’s Tire Service, Inc. through December 31, 2029
- Tire retread and distribution facility supporting Pomp’s regional operations
- Direct access to Interstate 80, one of the nation’s primary east-west transportation corridors
- Attractive 9.0% cap rate with $210,000 in-place NOI and 3.0% annual rent escalations
- Acquisition basis of under $40 per square foot, significantly below replacement cost
- 2004 construction featuring standing seam metal roof, 6 dock doors and 1 drive-in door
Executive Summary
Colliers is pleased to present the opportunity to acquire a fully leased industrial manufacturing and distribution facility occupied by Pomp’s Tire Service, Inc., one of the Midwest’s largest independently owned tire service providers. Strategically located in Anita, Iowa with immediate access to Interstate 80, the Property serves as a mission-critical tire retread and distribution operation supporting Pomp’s extensive commercial tire network throughout the region.
The offering consists of a 60,000-square-foot industrial facility constructed in 2004 and leased in its entirety to Pomp’s Tire Service, Inc. The building features durable metal panel construction, a standing seam metal roof, 24’ clear height (peak), six dock-high loading doors, one drive-in door, andprimarily motion-sensored LED lighting.
The Property is offered at $2,330,000, representing an attractive 9.0% cap rate on the current in-place net operating income. The lease is structured on a triple-net basis with 3.0% annual rental increases through its expiration on December 31, 2029, providing investors with predictable and growing cash flow.
A key differentiator of this offering is its significant embedded rental upside. The current lease rate is $3.50/NNN, materially below prevailing market rents for comparable industrial facilities. Importantly, the lease contains no tenant renewal options, providing ownership with the ability to negotiate a renewal at then-current market rates or reposition the asset upon lease expiration. This creates a compelling mark-to-market opportunity that is uncommon in net-leased industrial investments, offering investors the potential for meaningful NOI growth beyond the current lease term.
Acquired at approximately $39 per square foot, the property is available at a basis at or below comparable vacant buildings, providing investors with a significant margin of safety while preserving long-term flexibility. The modern industrial facility offers durable construction, efficient loading capabilities, and exceptional access to Interstate 80—one of the nation’s premier east-west transportation corridors.
The combination of a 9.0% going-in yield, contractual annual rent growth, substantially below-market in-place rents, and a clear path to future rental rate expansion positions this property as a compelling investment opportunity for buyers seeking both immediate cash flow and long-term value creation.
The offering consists of a 60,000-square-foot industrial facility constructed in 2004 and leased in its entirety to Pomp’s Tire Service, Inc. The building features durable metal panel construction, a standing seam metal roof, 24’ clear height (peak), six dock-high loading doors, one drive-in door, andprimarily motion-sensored LED lighting.
The Property is offered at $2,330,000, representing an attractive 9.0% cap rate on the current in-place net operating income. The lease is structured on a triple-net basis with 3.0% annual rental increases through its expiration on December 31, 2029, providing investors with predictable and growing cash flow.
A key differentiator of this offering is its significant embedded rental upside. The current lease rate is $3.50/NNN, materially below prevailing market rents for comparable industrial facilities. Importantly, the lease contains no tenant renewal options, providing ownership with the ability to negotiate a renewal at then-current market rates or reposition the asset upon lease expiration. This creates a compelling mark-to-market opportunity that is uncommon in net-leased industrial investments, offering investors the potential for meaningful NOI growth beyond the current lease term.
Acquired at approximately $39 per square foot, the property is available at a basis at or below comparable vacant buildings, providing investors with a significant margin of safety while preserving long-term flexibility. The modern industrial facility offers durable construction, efficient loading capabilities, and exceptional access to Interstate 80—one of the nation’s premier east-west transportation corridors.
The combination of a 9.0% going-in yield, contractual annual rent growth, substantially below-market in-place rents, and a clear path to future rental rate expansion positions this property as a compelling investment opportunity for buyers seeking both immediate cash flow and long-term value creation.
Property Facts
| Price | $3,272,625 CAD | Rentable Building Area | 60,000 SF |
| Price Per SF | $54.54 CAD | No. Stories | 1 |
| Sale Type | Investment NNN | Year Built | 2004 |
| Cap Rate | 9% | Tenancy | Single |
| Property Type | Industrial | Clear Ceiling Height | 24’ |
| Property Subtype | Warehouse | No. Dock-High Doors/Loading | 6 |
| Building Class | C | No. Drive In / Grade-Level Doors | 1 |
| Lot Size | 4.61 AC | ||
| Zoning | C | ||
| Price | $3,272,625 CAD |
| Price Per SF | $54.54 CAD |
| Sale Type | Investment NNN |
| Cap Rate | 9% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 4.61 AC |
| Rentable Building Area | 60,000 SF |
| No. Stories | 1 |
| Year Built | 2004 |
| Tenancy | Single |
| Clear Ceiling Height | 24’ |
| No. Dock-High Doors/Loading | 6 |
| No. Drive In / Grade-Level Doors | 1 |
| Zoning | C |
1 1
Not walkable
10/100
Exceptionally drivable
100/100
Not bikeable
10/100
Property Taxes
| Parcel Number | 320012627001005 | Improvements Assessment | $1,746,322 CAD |
| Land Assessment | $89,703 CAD | Total Assessment | $1,836,025 CAD |
Property Taxes
Parcel Number
320012627001005
Land Assessment
$89,703 CAD
Improvements Assessment
$1,746,322 CAD
Total Assessment
$1,836,025 CAD
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700 IA-148
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