Ottumwa, IA - Jersey Mike's & Aspen Dental

Description:

SRS Real Estate Partners, LLC in collaboration with Gateway Real Estate Advisors is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN-leased retail strip featuring Aspen Dental and Jersey Mike’s. Both tenants are nationally recognized brands with an average remaining lease term of over five (5) years and multiple extension options, demonstrating long-term commitment to the site and supporting durable cash flow. Jersey Mike’s also features a rent increase after year five, and its three (5-year) renewal options are at fixed increases, providing built-in income growth potential and future upside. Both leases are triple-net, with tenants reimbursing their pro rata share of CAM, taxes, and insurance, helping minimize expense leakage for an investor with the landlord generally only responsible for common areas, landscaping, and parking.

The subject property is positioned within an active, retail-dense corridor at/near the intersection of 34th Infantry Division Highway and N Quincy Ave, which sees approximately 26,500 vehicles per day. The site benefits from strong tenant synergy and crossover shopping, located directly across from a Harbor Freight–anchored center that includes tenants such as Dollar Tree and Dunham Sports, and across the intersection from a Hobby Lobby and TJ Maxx–anchored center with additional national retailers and quick-service concepts (including Bath & Body Works and Jimmy John’s, among others). Further strengthening the corridor’s draw, the property is less than one mile from a Walmart Super-center and Menard’s. The surrounding 5-mile trade area is supported by more than 28,500 residents and approximately 16,700 employees, with an average household income of $78,364, reinforcing long-term demand for the site and its tenantsThe subject property is positioned within an active, retail-dense corridor at/near the intersection of 34th Infantry Division Highway and N Quincy Ave, which sees approximately 26,500 vehicles per day. The site benefits from strong tenant synergy and crossover shopping, located directly across from a Harbor Freight–anchored center that includes tenants such as Dollar Tree and Dunham Sports, and across the intersection from a Hobby Lobby and TJ Maxx–anchored center with additional national retailers and quick-service concepts (including Bath & Body Works and Jimmy John’s, among others). Further strengthening the corridor’s draw, the property is less than one mile from a Walmart Super-center and Menard’s. The surrounding 5-mile trade area is supported by more than 28,500 residents and approximately 16,700 employees, with an average household income of $78,364, reinforcing long-term demand for the site and its tenants

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Listing ID: a28TP000002g1jJYAQ