1205 Summit StMaquoketa, IA 52060

Property Details for 1205 Summit St

Year built

1994

Lot size

7.21 AC

Property size (Sq ft)

27,500 SF

Property type

Manufacturing properties

APN

145183020001900

APU

145183020001900

Description

This exceptional single-tenant industrial property in Maquoketa, Iowa, presents a compelling investment opportunity. The 27,500-square-foot manufacturing facility, built in 1994 and renovated in 1997, sits on a 7.21-acre lot and features four loading docks. Currently fully leased to a long-term tenant, Mallard Manufacturing, under a triple-net (NNN) lease, the property boasts a strong 8.00% cap rate and a net operating income (NOI) of $96,250. The asking price is $1,203,125, translating to $43.75 per square foot. The tenant recently extended their lease for an additional three years, commencing January 1, 2025, demonstrating their commitment to the location. This commitment is further solidified by the tenant's recent expansion into a nearby facility. The property benefits from annual rent escalations of 3%, providing consistent income growth. This is a stable, high-yield investment in a well-established manufacturing business within a growing market, further enhanced by a recent acquisition by a major player in the industry. The one-story building offers a solid foundation for long-term returns. The property is located at 1205 E Summit St, Maquoketa, IA 52060.

• Alternative Use

  Use

  Valuation

  Residential

  $5,683,532

  Hospitality

  $5,206,085

  Educational

  $4,331,402

  Medical

  $4,480,365

  Retail

  $6,737,736

Location Insight

City

Maquoketa

County

Jackson

State

Iowa

Latitude

42.0609

Longitude

-90.648

Property Tax & Assessments

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