209 Erie StMissouri Valley, IA 51555

Property Details for 209 Erie St

Year built

2007

Construction

FRAME

Lot size

0.07 AC

Property size (Sq ft)

2,352 SF

Property type

Turn key restaurants

APN

600002420400000

APU

600002420400000

Description

This exceptional investment opportunity presents a standalone restaurant building and equipment for sale at $199,000. Located at 209 E Erie St, Missouri Valley, IA 51555, this 2,352 square foot Class C property boasts a strong 16.81% cap rate and a substantial net operating income (NOI) of $33,444. The property, built in 2007, is currently 100% occupied by a franchisee tenant under a gross lease agreement with approximately 1.7 years remaining on a 5-year lease (commencing July 12, 2021, and expiring July 19, 2026). The tenant is responsible for all interior building and equipment maintenance, minimizing owner responsibilities. The included equipment was recently appraised at over $60,000. This is a value-add opportunity with a single tenant operating multiple locations throughout the Southwest Iowa region, providing a stable income stream. The sale is offered as an owner/user investment, providing a strong return on investment. The property is owned by an LLC and is being sold by the owner. This is a rare opportunity to acquire a profitable, established restaurant with significant upside potential. The asking price per square foot is $84.61.

• CAP approach

  CAP return

  Valuation

  6%

  $499,460

  6.5%

  $461,040

  7%

  $428,108

• Comparable approach

  Method

  Valuation

  Relative Method

  $302,516

  Geo Method

  $302,516

• Alternative Use

  Use

  Valuation

  Residential

  $388,904

  Hospitality

  $356,234

  Educational

  $296,383

  Medical

  $306,576

  Retail

  $461,040

Location Insight

City

Missouri Valley

County

Harrison

State

Iowa

Latitude

41.5566

Longitude

-95.8927

CBSA code

36540

CBSA name

OMAHA-COUNCIL BLUFFS, NE-IA METROPOLITAN 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].