135 80Th StFairfax, IA 52228

For Sale
$475,000

Profitable Fairfax veterinary clinic; sale-leaseback.

Overview

Added:
Dec 11, 2024
Days on market:
91
This exceptional investment opportunity presents a 3,055 square foot medical office building, currently operating as a thriving veterinary clinic, available for sale-leaseback. Located at 135 80th St, Fairfax, IA 52228, this single-story, 2010-built property sits on a 0.306-acre lot and is zoned C2, Highway Commercial. The asking price is $475,000, representing a compelling price per square foot of $155.48 and a 9.62% cap rate. The property boasts a 100% occupancy rate with a strong, creditworthy tenant committed to a 3-5 year lease at $14.95 per square foot, NNN. The gross lease structure simplifies ownership, and the low-maintenance aspect is further enhanced by HOA fees covering insurance, trash removal, lawn care, and snow removal. This commercial condominium is ideally situated in Fairfax, a convenient bedroom community to Cedar Rapids (population ~276,000, median age 36). The property's Net Operating Income (NOI) is $45,672. The APN is 20102-52013-01000. This sale-leaseback presents a stress-free ownership experience with minimal involvement, making it an attractive addition to any investment portfolio. The property features one building with a single story.

Highlights

  • $475,000 asking price for a 3,055 SF medical office building.
  • Sale-leaseback opportunity with a creditworthy veterinary clinic tenant.
  • Low-maintenance ownership with HOA covering insurance, trash, lawn, and snow removal.

Property Details for 135 80Th St

Property type
Other office properties, Medical offices
Square Feet
3,055 SF
Year Built
2010
Buildings
1
Stories
1
Lot Size (sq. ft)
13,329 SF

Location Insight

City
Fairfax
County
Linn
State
Iowa
Latitude
41.928537077748
Longitude
-91.774368256131
135 80Th St, Fairfax, Iowa

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135 80Th St
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