2425 MUSCATINE AVE

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2425 MUSCATINE AVE

IOWA CITY, IA 52240-6647
Asking Price
$3.19M
Cap Rate
8.25%
Asset Type
Pharmacy/Drug Retail
Class
Class B

What's Special

8.25% Cap Rate | Nearly 6 Years Remaining on Absolute NNN Lease | Ten 5-Year Renewal Options <ul><li>​Nearly 6 Years Remaining on Corporately Guaranteed Absolute Net Lease</li><li>​Ten 5-Year Renewal Options With Rent Adjusted to Fair Market Value Starting in 2042</li><li>​Full $811,027 Rent-Holiday Credit Provided at Closing — Equivalent to 37 Months of Rent</li><li>​On 17,600+ AADT Intersection Across from Hy-Vee Supermarket and Maverik Fuel Station</li><li>​Only 1.9 Miles Southeast of 31,563-Student University of Iowa Via Muscatine Avenue</li><li>​Just 0.9 Miles to Procter & Gamble’s

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NOI
$80,000
Cap Rate
2.51%
DSCR
0.42
Underwater
Cash-on-Cash
-11.43%
Monthly Payment
$15,774.043
Annual Cash Flow
$-109,288.516

Location & Travel Times