Council Bluffs Savings Bank

Properties Sold
COUNCIL BLUFFS SAVINGS BANK
1751 Madison Ave., Council Bluffs, IA 51503

PRICE $550,000
GLA 3,500 SF
PROPERTY TYPE Retail
CAP RATE 5.5%
LEASE TYPE NNN
LEASE EXPIRATION July 2019
YEAR BUILT 1988
DEMOGRAPHICS
2013 Total Population
1 – mi. – 3,319
3 – mi. – 47,246
5 – mi. – 75,013
More info in the flyer

INVESTMENT HIGHLIGHTS

  • Single Tenant Absolute NNN Ground Lease – Zero Landlord Obligations.
  • Council Bluffs Savings Bank serves as a pad site to the Mall of the Bluffs and a grocery (Hy-Vee) anchored shopping center who reportedly done $570 psf in sales last year.
  • Tremendous value add opportunity – Council Bluffs Savings Bank’s rent is significantly below market at $7.71 psf (market rents are $15 – $25 psf).
  • The daily shoppers that visit the Mall and the Shopping Center for their daily needs provide a constant customer flow within the Single Tenant Corridor.
  • Near Iowa Western Community College with over 4,600 students and over 1,100 on-campus residents and The Lewis Central Community School District with over 3,000 students enrolled.
  • Conveniently located on I-80, with 60,000 vehicles passing per day.
  • Council Bluffs Savings Bank has presented interest in purchasing this pad site.
  • Council Bluffs Savings Bank is a private company serving the banking needs of the local area.

City:Council Bluffs
State:IA
Square Feet:3,500 SF
Price:$550,000
Cap Rate:5.3%

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