Applebee's - Hastings
2000 Vermillion Street, Hastings, MN, 55033, US
R 32,093,000 | 508 m²
Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire CVS Pharmacy located at 2639 Avenue L, Fort Madison, IA 52627 (the “Property” or “Asset”). The tenant operates under an absolute NNN lease with approximately 8 years of primary term remaining.
This offering presents investors with an exceptional opportunity to acquire an asset providing secure, long-term cash flow, backed by a leading national retailer.
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Attributes
Asking price
R 56,283,000
Cap rate
8.15%
NOI
R 4,587,000
Remaining lease term
8.2 years
Lease type
Absolute Triple Net
Building area net
1,377 m²
Year built
2008
Land area gross
0 m²
Media
Investment Highlights
- National tenancy with over 12,500 stores nationwide
- Absolute NNN with zero landlord responsibilities
- 8.2 years of primary lease term remaining
- Neighboring national retailers such as Hy-Vee with 780,000+ visitors annually
- Regional draw, only Walgreens within a 15-mile radius
- 22% population growth within Lee County
- 15+ years of operational history at the site
Contact brokers
Walgreens - Fort Madison, IA (0 Properties)
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Last updated
3 Feb 2026
