1700 Dakota AveSouth Sioux City, NE 68776

For Sale
$897,000

7,000 SF Auto Shop, 7.75% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
92
This fee-simple retail investment opportunity presents a 7,000 square foot Advance Auto Parts in South Sioux City, Nebraska. The property, built in 2000, sits on a 0.67-acre lot with 38 parking spaces and boasts a prominent location at the signalized intersection of US Hwy 77 and Dakota Ave, experiencing over 52,500 vehicles daily. The current lease, a Net-Net (NN) agreement with a corporate guarantee, has approximately 4.1 years remaining, with a 5-year option to extend including a 22.68% rent increase at the start of the option period. This translates to a strong NOI of $69,504 and a 7.75% cap rate on the $897,000 asking price ($128.14/SF). The property benefits from excellent visibility and significant street frontage, complemented by a large sign. The surrounding area features strong demographics, with a 5-mile trade area population exceeding 102,600 and an average household income of $88,362. Nearby national retailers include Walmart, Hy-Vee, McDonald's, Taco Bell, and other auto parts stores, creating synergistic traffic. The property's permitted zoning is commercial, and the APN is 220027323. This low-management investment offers a secure, passive income stream with significant upside potential. The lease commencement date was August 10, 2012, and the lease expiration is December 31, 2028.

Highlights

  • 4+ Years Remaining on Lease, with Extension Option.
  • Net Lease, Fee Simple Ownership, Minimal Landlord Responsibilities.
  • High-Visibility Hard Corner Location, Signalized Intersection (52,500 VPD), Ample Signage.
  • Strong Demographics within a 5-Mile Radius.

Property Details for 1700 Dakota Ave

Property type
Other retail properties, Automotive properties
Square Feet
7,000 SF
Year Built
2000
Lot Size (sq. ft)
29,185 SF

Location Insight

City
South Sioux City
County
Dakota
State
Nebraska
Latitude
42.4734637
Longitude
-96.4131599
1700 Dakota Ave, South Sioux City, Nebraska

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1700 Dakota Ave
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