2201 Oak StAlgona, IA 50511

Property Details for 2201 Oak St

Year built

1995

Lot size

9.18 AC

Property size (Sq ft)

31,200 SF

Property type

Warehouses

APN

22-01-277-009

APU

2201277009

Description

This exceptional investment opportunity presents a 31,200 square foot warehouse in Algona, Iowa, currently operating at 100% occupancy under a 15-year absolute NNN lease with Stueve Construction, LLC. The lease boasts a 7.75% cap rate and a substantial $620,000 annual net operating income (NOI), with built-in 2% annual rent bumps. The single-story building, constructed in 1995, sits on a 9.18-acre lot and features five dock-high doors and a 14-foot ceiling height. The property is zoned for commercial/industrial use and serves as the headquarters for Stueve Construction, a leading provider in the fertilizer storage construction market, ensuring a mission-critical tenancy. The lease includes two 5-year renewal options, providing long-term stability and a hedge against inflation. The asking price is $8,000,000, translating to $256.41 per square foot. This fee-simple ownership offers a secure, passive investment in a growing industry, backed by a corporate guarantee and a tenant with a proven track record and significant revenue. The property's strategic location in Kossuth County, Iowa, further enhances its appeal. This is a rare opportunity to acquire a high-performing, net-leased industrial asset with significant upside potential.

• Alternative Use

  Use

  Valuation

  Residential

  $5,878,588

  Hospitality

  $5,384,756

  Educational

  $4,480,054

  Medical

  $4,634,130

  Retail

  $6,968,972

Location Insight

City

Algona

County

Kossuth

State

Iowa

Latitude

43.0755

Longitude

-94.2103

Property Tax & Assessments

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