REIT Sale | Former Burger King | Omaha DMA | Red Oak, IA

Highlights:

• Freestanding Former Burger King with Drive-Thru on 1.06-AC available at Significant Discount Below Replacement Cost
• Signalized Hard Corner with ±7,568 VPD Traffic and Excellent Visibility on Broadway Street | Frontage along Four Streets
• Nearby Traffic Drivers: McDonald’s, Hy-Vee Grocery Store, Family Dollar, Dollar General, O’Reilly Auto Parts, Ace Hardware, Subway, and more
• Attractive Demographics with Annual Household Income of ±$73,979 (5-Mile)
• Zoned C-1, Highway Commercial District with a Variety of Permitted Uses
• Absolute $1 Auction – NO RESERVE

Description:

Ri Marketplace Online Auction May 18th-20th, 2026
Register to bid on Marketplace:

https://rimarketplace.com/auction/3092/retail/red-oak/ia?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=retail_3092

Marcus & Millichap and RI Marketplace are pleased to present the opportunity to acquire a vacant, free-standing, second-generation restaurant/retail building located at 1410 N Broadway Street in Red Oak, Iowa (the “Property”). Formerly occupied by Burger King, the Property is being offered significantly below replacement cost, presenting a compelling opportunity for owner-users or investors to acquire a highly visible, drive-thru-equipped retail asset at an attractive basis. FIRST BID MEETS RESERVE!

Constructed in 1988, the Property consists of a ±3,483 SF single-story restaurant building with drive-thru capabilities, situated on a ±1.06-acre parcel (±46,161 SF). The site features a concrete surface parking lot with 63 on-site parking spaces, multiple points of ingress and egress, and efficient internal circulation, supporting a variety of retail or restaurant uses. The Property benefits from exceptional frontage and visibility, including approximately ±120 feet along Broadway, a primary retail and commuter corridor carrying approximately 7,568 vehicles per day (VPD), as well as additional frontage along Linden Street (±270 feet), 1st Street (±120 feet), and Oak Street (±60 feet). This positioning along a well-established daily-needs retail corridor provides strong exposure and convenient access for both local and pass-through traffic. Previously leased to Burger King on a triple-net (NNN) basis, the asset presents a value-add opportunity through re-tenanting at prevailing market rents, with CoStar estimating retail rental rates in the range of $7 to $9/SF NNN. Zoned C-1 (Highway Commercial), the site permits a wide range of retail, restaurant, and service-oriented uses, enhancing operational flexibility and long-term redevelopment potential.

The Property is located in Red Oak, the county seat of Montgomery County, Iowa, within the Omaha, NE-IA-MO Designated Market Area (DMA), less than 1 hour from Downtown Omaha. Strategically positioned along Broadway, the city’s primary retail and commuter corridor, the Property benefits from its location across from a busy Hy Vee-anchored retail center, which contributes to consistent daily traffic and supports a stable retail environment. The surrounding area is anchored by nearby educational institutions including Red Oak Community High School, with 900+ students, and Inman Elementary School, with 500+ students, both located less than 1 mile from the Property and helping generate steady weekday activity and a reliable daytime population. The Property is also located approximately ±1.5-Mi from Montgomery County Memorial Hospital, a 25-bed facility and the region’s primary healthcare provider, supporting employment-driven traffic and demand for daily-needs retail and service uses. Additional regional demand drivers within approximately 1 mile of the Property include Red Oak Municipal Airport and Southwestern Community College’s Red Oak Center, further contributing to the area’s employment base and local economic activity. Collectively, these surrounding demand drivers support consistent daily-use traffic patterns and reinforce the Property’s long-term viability for quick-service restaurant, retail, and service-oriented uses. The 5-mile trade area includes ±6,196 residents with an average household income of ±$82,281, providing a stable customer base for neighborhood-serving retail.



Lamar P. Fisher
Fisher Auction Company Inc.
License: Internet Auctions Exempt from Licensing, Lamar P. Fisher
The platform fee for this transaction is the greater of 5.00% or a minimum of $20,000.

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