1205 Summit St Maquoketa, IA 52060

This exceptional single-tenant industrial property in Maquoketa, Iowa, presents a compelling investment opportunity. The 27,500-square-foot manufacturing facility, built in 1994 and renovated in 1997, sits on a 7.21-acre lot and features four loading docks. Currently fully leased to a long-term tenant, Mallard Manufacturing, under a triple-net (NNN) lease, the property boasts a strong 8.00% cap rate and a net operating income (NOI) of $96,250. The asking price is $1,203,125, translating to $43.75 per square foot. The tenant recently extended their lease for an additional three years, commencing January 1, 2025, demonstrating their commitment to the location. This commitment is further solidified by the tenant's recent expansion into a nearby facility. The property benefits from annual rent escalations of 3%, providing consistent income growth. This is a stable, high-yield investment in a well-established manufacturing business within a growing market, further enhanced by a recent acquisition by a major player in the industry. The one-story building offers a solid foundation for long-term returns. The property is located at 1205 E Summit St, Maquoketa, IA 52060.