Cedar Falls -Jimmy John's

Highlights:

• LONG TERM RETAIL TENANT - Nationally recognized retail tenant Jimmy John's occupies the retail space on a long term leases. Jimmy John's has over 9 years remaining on their lease and recently showed strong commitment to the site by exercising all three of their renewal options simultaneously and early.
• NNN LEASE - Retail Tenant is on a NNN Lease allowing for a large portion of the expenses to be reimbursed.
• WELL MAINTAINED PROPERTY - Newer HVAC Units (2018/2020). Interior Jimmy Johns remodeled in 2014. Recent Renovations to the residential units.
• NORTHERN IOWA UNIVERSITY - The college is located just across the street from the property, making it an excellent home for students and location for retail tenants. UNI's fall 2023 enrollment tops 9,000 students marking the institution’s biggest year-to-year increase in over a decade. Additionally, the site is close to Orchard Hill Elementary, Peet Jr High, CF High School making it a desirable location for families.
• DENSE RESIDENTIAL AREA - The subject property is located in a dense residential area that is dominated by student residences, with a low vacancy factor in the 3% range, this property give the landlord piece of mind that there will always be interest in the residential units should they become vacant.

Description:

Prime Net Lease is pleased to present this mixed-use retail/multi-family property just steps from Northern Iowa University in Cedar Falls, IA.

The property consists of one retail tenant, Jimmy John's, which occupies the ground floor and two multi-family units above and behind them consisting of one 1-bedroom, 1-bathroom unit, and one 3-bedroom, 1-bathroom unit.

Jimmy John's, a nationally known retail tenant recently showed superb commitment to the site by exercising all three of their 5-year option period simultaneously, committing to the site until the end of 2034, a testament to the strength of the location.

The property is superbly located just steps from the Northern Iowa University campus in a residential community with over 11,000 residents within a 1-mile radius. The University of Northern Iowa is ranked second in the “Top Public Schools Regional University (Midwest)” category, according to U.S. News & World Report. As one of Iowa’s three public universities, UNI is known for designing robust and practical learning experiences — the kind that gives our students the career edge they need in fields like education and business. But most importantly, we're passionate about our students.

With over 90 degree programs and a community of supportive faculty, we’re here to help you chase your dreams. With a vibrant campus community, and endless opportunities to explore, we promise to keep things interesting along the way. Student housing demand in the area ensures the units are always rented at top of the market rates.

Kwik Star Gas Station and Convenience Store located just across the street provides additional traffic for the retail tenants who have all successfully operated at the site for an average of just under 7 years.

*2024 College St (Domino's Pizza) also available, contact broker for info.*
**2018 College St (China Rose Massage) is NOT included in this offering.**

The City of Cedar Falls is located in Black Hawk County, in the State of Iowa. Originally named “Sturgis Falls” after its first settler, William Sturgis, it was later renamed after the river that flows through the city.

Cedar Falls is home to the University of Northern Iowa, one of Iowa’s three state universities. In addition to programming provided by the City’s Hearst Center for the Arts, the Parks and Recreation Divisions, and the outstanding education provided by the Cedar Falls Schools, the University of Northern Iowa provides additional opportunities for academic, cultural, and athletic activities.

The Cedar Valley includes a diverse group of businesses which include; food processing, logistics, manufacturing, information solutions, and agri-based biotechnology. John Deere, located in Waterloo, is one of the most important sectors providing over 5,000 jobs that range from line workers to office jobs and more. Other
large providers of employment include Tyson Foods, MercyOne, UnityPoint Health, the University of Northern Iowa, Target distribution, Bertch Cabinetry, and The Waterloo Community School District. The Cedar Valley is constantly growing and diversifying its offerings to attract new businesses to the area.

The Cedar Valley located in Northeast Iowa is home to around 250,000 Iowans. Just shy of 100 miles, the Cedar Valley includes 6 different counties. The quality of life in the Cedar Valley is strengthened by a substantial amount of bicycle trails, 130+ miles of recreational trails, golf courses, countless municipal and state parks, sports complexes, numerous museums, and performing arts centers.

Home to the University of Northern Iowa, one of Iowa’s three state universities, a 4-year private college, a community college, and advanced public and private Pre-K and K-12 schools. The Cedar Valley is a prospering area for fine arts and diverse culture. The area is home to, Waterloo Center of Arts, Cedar Valley Arboretum & Botanic Gardens, and Hearst Center for the Arts.

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