4-Unit Gas Station Portfolio – Iowa

Elkader, Garnavilla, & West Union, IA

Property Highlights

  • Gas Station Investment Property - The offering features four separate properties, Conoco, BP, Fast Trak, and Fast Stop, located outside Cedar Rapids, IA.
  • New 20-Year Absolute NNN Master Sale Leaseback - The property will be subject to a 20-year absolute NNN master lease which will commence at close of escrow. The lease features no landlord responsibilities and annual 1.5% base rent increases with 4 x 5-year options to renew. The guarantee of the lease will be a 4-unit LLC.
  • Synergistic Locations in Northern Iowa - All four properties are located outside of Cedar Rapids on the border of Iowa and Wisconsin, in Elkader, Garnavillo, and West Union. Cedar Rapids had a population of over 134,000 in 2021, and continues to grow each year.
  • Price: $5,750,000
  • Cap Rate: 7.00%
  • Lease Type: Absolute Triple Net (NNN) Master Lease
  • Status: Sold

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