Description
NNN Lease Investment Property: Former 5,952 SF McDonald's fast food restaurant leased on triple net (NNN) terms. The lease commenced on September 1, 2024 and will expire on August 30, 2034. The tenant has (2) 5-year renewals with 10% rent bumps per renewal. Current rent due is $96,312.50 annually through Year 2. In Year 3, rent increases to $103,500 with strong escalators throughout the remaining term. The landlord replaced the roof and gutters in the fall of 2024 as part of lease negotiations. The tenant completed their own interior and exterior cosmetic work which included paint and concrete repairs. The property benefits from a recorded parking lot easement that adds an approximate (52) parking spaces into perpetuity. The restaurant is located along 86th Street in Urbandale at the controlled intersection of 86th Street and Colby Parkway. This is near the Douglas Avenue and 86th Street intersection. Neighborhood has strong traffic counts and is anchored by Hy-Vee. See Agent Remarks for full rent schedule.
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0BEDS
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1.07ACRES
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0BATHS
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01/2 BATHS
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5,952SQFT
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$227$/SQFT
Description
NNN Lease Investment Property: Former 5,952 SF McDonald's fast food restaurant leased on triple net (NNN) terms. The lease commenced on September 1, 2024 and will expire on August 30, 2034. The tenant has (2) 5-year renewals with 10% rent bumps per renewal. Current rent due is $96,312.50 annually through Year 2. In Year 3, rent increases to $103,500 with strong escalators throughout the remaining term. The landlord replaced the roof and gutters in the fall of 2024 as part of lease negotiations. The tenant completed their own interior and exterior cosmetic work which included paint and concrete repairs. The property benefits from a recorded parking lot easement that adds an approximate (52) parking spaces into perpetuity. The restaurant is located along 86th Street in Urbandale at the controlled intersection of 86th Street and Colby Parkway. This is near the Douglas Avenue and 86th Street intersection. Neighborhood has strong traffic counts and is anchored by Hy-Vee. See Agent Remarks for full rent schedule.