Dark KMart | Big Box Redevelopment Opportunity
Ames, IA
Price: $5,830,000Cap Rate: N/ABuilding SF: 102,232 SFLot Size: 11.5 AcresYear Built: 1993Status: Under Contract

Investment Highlights: 

Located on Major Retail Corridor – Solid Traffic Counts – Excellent Visibility – The subject property is located along Duff Ave, which sees traffic counts of 23,000+ cars per day. This corridor features major retailers including Best Buy, Books-A-Million, Walmart, Target, Verizon Wireless, Aldi, Phillips 66, Cinemark Theatre, Staples, First American Bank, Lowe’s, and Sam’s Club, as well as restaurants/fast food tenants such as Applebee’s, Red Lobster, Subway, Wendy’s, Texas Roadhouse, Jimmy John’s, Taco Bell, Arby’s, Buffalo Wild Wings, Panera Bread, and more.

Hard Corner Signalized Location – Multiple Entry Points – Drive Around Access – The property is located on the hard corner signalized intersection of Buckeye Ave and S. 16th St. The property offers four (4) entry points and expansive drive-around truck access.

Proximity to Interstate 35 – Quick Access to Surrounding Cities – Ames Municipal Airport Expansion  – The property is located just a couple of blocks from Interstate 35 for quick access to Des Moines just 30 miles to the south, as well as other surrounding cities. This ideal proximity to the freeway provides an excellent location for customers, deliveries, and shipping opportunities to access the property quickly and easily. In addition, the Ames Municipal Airport is undergoing a major renovation project, and recently completed a new terminal and airport hangar at an investment of $3.3-$3.4 million.

Located in Award-Winning Ames, Iowa – Top Business City & Best Place to Live – With a population of more than 65,000, Ames offers cultural, recreational, educational, business, and entertainment amenities more common in bigger metros. The town has earned many designations and awards including: “Top 3 Cities Where Job Growth is Happening (NationalSwell, 2017), #8 “Top 25 Best Cities for Entrepreneus (Entrepreneur Magazine, 2017), and “Best Places to Live 2016 (Money, 2016).

Home of Iowa State University – Educated Workforce  – Ames is home to Iowa State University, a public, land-grant university where students have access to 800-plus student organizatioins, undergrad research, internships and the ability to study abroad. It is the largest university in the state of Iowa and the 3rd largest university in the Big 12 athletic conference.

Attractive Location for World Class Companies – Low Tax Rates, Sales Tax, Worker’s Compensation  – Ames has the third-lowest property tax of the 12 largest cities in Iowa, offers 50% deductibility of federal taxes from Iowa corporate income, there is no personal property tax, or sales and use tax on Manufacturing Machinery & Equipment, its sales income tax only applies to the percentage of total sales income within the state, and workers compensation costs are 25% lower than the national average.

 


Ryan Barr

rbarr@lee-associates.com
O. 760.448.2446
F. 760.929.9977

Ryan Bennett

rbennett@lee-associates.com
O. 760.448.2449
F. 760.929.9977