thank you
Your email has been sent!
Burlington 3475 Westdale Dr SW 40,703 SF Retail Building Cedar Rapids, IA 52404 $6,595,555 ($162.04/SF) 6.75% Cap Rate
EXECUTIVE SUMMARY
Cushman & Wakefield Iowa Commercial Advisors is pleased to offer to investors an excellent opportunity to purchase a stand-alone NNN Burlington Coat Factory. Originally a 15-year lease, with 6.5 years remaining, and a rental increase in 3 years of 10%.
Westdale is strategically located on Edgewood Road with seamless access from Highway 30 and Interstate I-380, giving investors the opportunity to purchase an infill shopping center in a growing and positive area of the Corridor.
Originally built in 1979, Westdale was originally comprised of a 900,000 SF traditional two-story enclosed Shopping Mall. In 2014, the mall went through a transformative redevelopment. Now boasting five major big box retail buildings and numerous development pads across 40 acres, Westdale is a vibrant hub of commerce and community. With a diverse tenant mix, including PetSmart, Ross Dress for Less, Michael’s, Burlington, JCPenney, GSA (VA Clinic) and more, the center is currently 100% occupied, drawing from local, regional, and national markets.
Westdale is strategically located on Edgewood Road with seamless access from Highway 30 and Interstate I-380, giving investors the opportunity to purchase an infill shopping center in a growing and positive area of the Corridor.
Originally built in 1979, Westdale was originally comprised of a 900,000 SF traditional two-story enclosed Shopping Mall. In 2014, the mall went through a transformative redevelopment. Now boasting five major big box retail buildings and numerous development pads across 40 acres, Westdale is a vibrant hub of commerce and community. With a diverse tenant mix, including PetSmart, Ross Dress for Less, Michael’s, Burlington, JCPenney, GSA (VA Clinic) and more, the center is currently 100% occupied, drawing from local, regional, and national markets.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
40,703 SF
Building Class
B
Year Built
2016
Price
$6,595,555
Price Per SF
$162.04
Cap Rate
6.75%
NOI
$445,200
Tenancy
Single
Building Height
1 Story
Building FAR
0.68
Lot Size
1.38 AC
Zoning
S-MR - Suburban Mixed Use Regional Center
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 13364-76020-00000 | Improvements Assessment | $3,453,800 |
| Land Assessment | $552,000 | Total Assessment | $4,005,800 |
PROPERTY TAXES
Parcel Number
13364-76020-00000
Land Assessment
$552,000
Improvements Assessment
$3,453,800
Total Assessment
$4,005,800
CONTACTS
-
Ryan Fitzpatrick -
Parker Ridge -
Cushman & Wakefield | Iowa Commercial Advisors
1 of 7
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
Burlington | 3475 Westdale Dr SW
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.