3260 Redhawk StCoralville, IA 52241

Property Details for 3260 Redhawk St

Year built

2024

Lot size

1.24 AC

Property size (Sq ft)

2,337 SF

Property type

Retail properties

Description

This exceptional investment opportunity presents a newly constructed, 2,337 square-foot Chipotle restaurant located at 3260 Redhawk St, Coralville, IA 52241. Boasting a 15-year net lease (commencing June 19, 2024, and expiring June 30, 2039) with four 5-year renewal options, this property offers a secure, long-term investment. The lease includes a 7.5% rent increase every five years, ensuring consistent growth. The building features the high-performing "Chipotlane" drive-thru concept and benefits from a roof warranty extending to 2044. Situated on a 1.24-acre lot in a C-PUD2 zoned area, this property enjoys a prime location along Coral Ridge Avenue, a major thoroughfare with 30,600 vehicles per day. The area is experiencing significant growth, with nearby retailers including Hy-Vee, Starbucks, and others, plus a new 282-unit apartment complex and a large University of Iowa hospital campus within walking distance. The strong demographics include an average household income exceeding $121,127 within a five-mile radius, encompassing a population of over 66,600, and proximity to the University of Iowa (30,000 students). The property's current NOI is $174,375, resulting in a 5.60% cap rate. This is a rare opportunity to acquire a high-performing, net-leased asset in a rapidly expanding market with a strong, nationally recognized tenant. The asking price is $3,113,839. This property offers exceptional long-term value and strong potential for appreciation.

Location Insight

City

Coralville

County

Johnson

State

Iowa

Latitude

41.7185

Longitude

-91.6087

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].