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4515 Westdale Pkwy SW
Cedar Rapids, IA 52404
Boulder Tap House · Retail Property For Sale
EXECUTIVE SUMMARY
Cushman & Wakefield Iowa Commercial Advisors is pleased to offer to investors an excellent opportunity to purchase a stand-alone NNN Boulder Tap House built in 2023 with 9.5 years remaining. The lease has four 5-year renewals with 10% increases for every option.
Westdale is strategically located on Edgewood Road with seamless access from Highway 30 and Interstate I-380, giving investors the opportunity to purchase an infill shopping center in a growing and positive area of the Corridor.
Originally built in 1979, Westdale was originally comprised of a 900,000 SF traditional two-story enclosed Shopping Mall. In 2014, the mall went through a transformative redevelopment. Now boasting five major big box retail buildings and numerous development pads across 40 acres, Westdale is a vibrant hub of commerce and community. With a diverse tenant mix, including] PetSmart, Ross Dress for Less, Michael’s, Burlington, JCPenney, GSA (VA Clinic) and more, the center is currently 100% occupied, drawing from local, regional, and national markets.
Westdale is strategically located on Edgewood Road with seamless access from Highway 30 and Interstate I-380, giving investors the opportunity to purchase an infill shopping center in a growing and positive area of the Corridor.
Originally built in 1979, Westdale was originally comprised of a 900,000 SF traditional two-story enclosed Shopping Mall. In 2014, the mall went through a transformative redevelopment. Now boasting five major big box retail buildings and numerous development pads across 40 acres, Westdale is a vibrant hub of commerce and community. With a diverse tenant mix, including] PetSmart, Ross Dress for Less, Michael’s, Burlington, JCPenney, GSA (VA Clinic) and more, the center is currently 100% occupied, drawing from local, regional, and national markets.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Property Size
5,500 sq ft
Year Built
2023
Price
£1,789,701
Price per sq ft
£325.40
Yield
7.30%
NOI
£130,648
Tenancy
Single
Number of Floors
1
Plot ratio
0.09
Total Plot Size
1.37 ac
Use Class
S-MR - Suburban Mixed Use Regional Center
PROPERTY TAXES
| Parcel Number | 13364-76045-00000 | Improvements Assessment | £1,181,191 |
| Land Assessment | £145,222 | Total Assessment | £1,326,413 |
PROPERTY TAXES
Parcel Number
13364-76045-00000
Land Assessment
£145,222
Improvements Assessment
£1,181,191
Total Assessment
£1,326,413
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