408 Jefferson WayIndianola, IA 50125

Property Details for 408 Jefferson Way

Year built

1978

Lot size

0.99 AC

Property size (Sq ft)

3,314 SF

Property type

Drive through restaurants

APN

48860000980

APU

48860000980

Description

This exceptional investment opportunity presents a fee-simple interest in a thriving Arby's restaurant located at 408 N Jefferson Way, Indianola, Iowa. The property boasts a 3,314 square foot building on a 0.99-acre lot, completely renovated in 2004. Currently operating under a corporate-guaranteed, absolute NNN lease with a remaining term of 5.1 years (expiring December 31, 2029), this single-tenant property offers significant long-term stability. The tenant, DRM Inc., the second-largest Arby's franchisee, recently exercised a five-year option extension, demonstrating their strong commitment to the location. This lease structure ensures minimal landlord responsibilities. The property enjoys a 7.00% cap rate and a Net Operating Income (NOI) of $76,404. Its prime location on US-65, a major north-south thoroughfare connecting Indianola to Des Moines, provides exceptional visibility and accessibility. The property's proximity to other retail anchors like Walmart and Hy-Vee, along with schools and Simpson College, further enhances its desirability. The Warren County location benefits from being part of the Des Moines metro area, serving a population of nearly 750,000. The asking price is $1,091,000. The property's APN is 48860000980. This is a rare opportunity to acquire a well-established, high-performing retail asset with a strong tenant and excellent location.

• CAP approach

  CAP return

  Valuation

  6%

  $849,626

  6.5%

  $784,270

  7%

  $728,251

• Comparable approach

  Method

  Valuation

  Relative Method

  $426,249

  Geo Method

  $426,249

• Alternative Use

  Use

  Valuation

  Residential

  $661,561

  Hospitality

  $605,987

  Educational

  $504,174

  Medical

  $521,513

  Retail

  $784,270

Location Insight

City

Indianola

County

Warren

State

Iowa

Latitude

41.3641

Longitude

-93.5577

CBSA code

19780

CBSA name

DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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