3441 86th Street Active Save Request In-Person Tour Request Virtual Tour
Urbandale,IA 50322
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 717335
Year Built 1990
Annual Tax Amount $34,086
Tax Year 2024
Lot Size 1.070 Acres
Property Description
NNN Lease Investment Property: Former 5,952 SF McDonald's fast food restaurant leased on triple net (NNN) terms. The lease commenced on September 1, 2024 and will expire on August 30, 2034. The tenant has (2) 5-year renewals with 10% rent bumps per renewal. Current rent due is $96,312.50 annually through Year 2. In Year 3, rent increases to $103,500 with strong escalators throughout the remaining term. The landlord replaced the roof and gutters in the fall of 2024 as part of lease negotiations. The tenant completed their own interior and exterior cosmetic work which included paint and concrete repairs. The property benefits from a recorded parking lot easement that adds an approximate (52) parking spaces into perpetuity. The restaurant is located along 86th Street in Urbandale at the controlled intersection of 86th Street and Colby Parkway. This is near the Douglas Avenue and 86th Street intersection. Neighborhood has strong traffic counts and is anchored by Hy-Vee. See Listing Agent for more information on rent escalators and parking lot easement.
Location
State IA
County Polk
Area Urbandale
Zoning PUD
Interior
Heating Forced Air,Gas
Cooling Central Air
Exterior
Roof Type Metal,Rubber
Building
Lot Description Rectangular Lot
Foundation Block
Sewer Public Sewer
Water Public
Schools
School District Urbandale
Others
Monthly Total Fees $2,840
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional