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550 Wilson Avenue SW

Cedar Rapids, IA 52404
  • $2,600,000
  • STATUS: Active
  • ON SITE: 54 Days
  • MLS #: 679300
UPDATED: 20 min ago
$2,600,000
  • 0
    BEDS
  • 1.33
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,252
    SQFT
  • $800
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1992
County:
Area:

School Ratings & Info

Description

WB Realty is proud to present for sale the Fas Mart and Fas Fuel gas station and convenience store located at 550 Wilson Ave SW in Cedar Rapids, IA. With its absolute triple-net lease structure, long operating history, recent renovations, and potential bonus depreciation options, this asset is a lucrative investment opportunity not to be missed. The tenant, GPM Midwest, LLC, is a wholly owned subsidiary of the 6th largest convenience store operator in America. There are four years remaining on the current lease term, and there are two 5-year option terms remaining with 8.5% rent increases, providing an excellent hedge against inflation. The property is located just two blocks from Interstate 380 at the corner of a busy intersection. Cedar Rapids is the second largest city in Iowa, and the I-380 corridor links Cedar Rapids to the Iowa City MSA just a twenty miles to the south. Contact us today to learn more and seize the chance to own a successful retail property with a trusted tenant and long-standing success.

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© 2023 Des Moines Multiple Listing Service. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS or EXIT Realty Capital City. Data last updated: 2023-09-21T15:22:16.44.
www.exitrealtycc.com/homes/141940718
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550 Wilson Avenue SW Cedar Rapids, IA 52404

  • Price: $2,600,000
  • Status: Active
  • On Site: 54 Days
  • Updated: 20 min ago
  • MLS #: 679300
0
Beds
0
Baths
0
½ Baths
1.33
Acres
3,252
SQFT
$800
$/SQFT
1992
Built
Neighborhood:
Cedar Rapids
County:
Linn
Area:
Cedar Rapids
Property Description
WB Realty is proud to present for sale the Fas Mart and Fas Fuel gas station and convenience store located at 550 Wilson Ave SW in Cedar Rapids, IA. With its absolute triple-net lease structure, long operating history, recent renovations, and potential bonus depreciation options, this asset is a lucrative investment opportunity not to be missed. The tenant, GPM Midwest, LLC, is a wholly owned subsidiary of the 6th largest convenience store operator in America. There are four years remaining on the current lease term, and there are two 5-year option terms remaining with 8.5% rent increases, providing an excellent hedge against inflation. The property is located just two blocks from Interstate 380 at the corner of a busy intersection. Cedar Rapids is the second largest city in Iowa, and the I-380 corridor links Cedar Rapids to the Iowa City MSA just a twenty miles to the south. Contact us today to learn more and seize the chance to own a successful retail property with a trusted tenant and long-standing success.
Exterior Features

Construction Materials BrickBlock Road Surface Type Concrete

Interior Features

Cooling Centralair Cooling YN Yes Heating ForcedairGasNaturalgas Heating YN Yes Interior Features Seeremarks

Property Features

Lease Considered YN No Listing Terms CashConventional Lot Features Rectangularlot Property Sub Type Retail Property Sub Type Additional Retail Sewer Publicsewer Tax Annual Amount 34652.57 Tax Year 2023 Water Source Public Zoning Com

Listing provided courtesy of Wb Realty Company: (515) 966-5478. © 2023 Des Moines Multiple Listing Service.
© 2023 Des Moines Multiple Listing Service. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS or EXIT Realty Capital City. Data last updated: 2023-09-21T15:22:16.44.
 
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