511 32Nd StFort Dodge, IA 50501

Property Details for 511 32Nd St

Year built

2012

Lot size

1.83 AC

Property size (Sq ft)

5,342 SF

Property type

Turn key restaurants

APN

728227033

APU

728227033

Description

This exceptional investment opportunity presents a single-tenant, 5,342 square foot restaurant located at 511 South 32nd Street, Fort Dodge, Iowa. The property boasts a strong 7.25% cap rate, generating a net operating income (NOI) of $157,812. Secured by an absolute NNN lease with a prominent, growing restaurant operator, the lease has approximately 8 years remaining on a 20.3-year term, expiring October 31, 2032. The lease commenced August 1, 2012, and includes annual rent increases. Situated on a 1.83-acre lot, this single-story, 2012-built structure is zoned for commercial use and features a membrane roof. The property's asking price is $2,176,717, translating to $445.53 per square foot. Annual property taxes are $31,688. This is a stabilized investment with 100% occupancy, offering a secure and lucrative return for the discerning investor. The property's location in Fort Dodge, Webster County, Iowa (zip code 50501) provides excellent access and visibility.

• CAP approach

  CAP return

  Valuation

  6%

  $1,134,402

  6.5%

  $1,047,141

  7%

  $972,345

• Comparable approach

  Method

  Valuation

  Relative Method

  $687,092

  Geo Method

  $687,092

• Alternative Use

  Use

  Valuation

  Residential

  $883,302

  Hospitality

  $809,100

  Educational

  $673,162

  Medical

  $696,313

  Retail

  $1,047,141

Location Insight

City

Fort Dodge

County

Webster

State

Iowa

Latitude

42.5002

Longitude

-94.1489

CBSA code

22700

CBSA name

FORT DODGE, IA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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].