Contacts

Jon England, CCIM, SEC

NAI Heartland

Property Details

Property Type Retail - Freestanding
Property Size 2,200 SF
Units 1
Lot Size 1.31 Acre
Additional Rent Contact for pricing
Property Tenancy Single Tenant
Year Built 2024
Date Updated Jun 12, 2024

2123 Kimball Avenue (“the Property”), located in the heart of Waterloo, Iowa, is a 2024 built standalone retail building. The Property offers a state-of-the-art high-quality building leased by Starbucks Corporation for 10 years with 4 different 5-year lease renewal options. This rare investment opportunity is comprised of a brand new ±2,200 SF building on 1.31 acres of land. With rent bumps every five years and landlord responsibilities limited to the roof and structure, the Property is a solid investment. Located on Kimball Avenue and just off of Ridgeway Avenue in Waterloo, the Property is on a highly trafficked street just walking distance from West High School. The property is set to serve multiple different customers being located close to numerous schools, MercyOne Hospital, and desirable residential neighborhoods.

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Highlights

Blue-Chip Tenant: Starbucks is one of the world’s most recognizable and financially stable brands.
Prime Location: The property is strategically situated in the heart of Waterloo, ensuring high visibility and foot traffic.
Stable Income: With a cap rate of 6.0%, this investment offers a stable and attractive income stream.
Long-Term Lease: Starbucks has signed a long-term lease agreement which provides consistent rental income over an extended period of time.
Minimal Landlord Responsibilities: Starbucks takes care of the majority of maintenance, making this investment hassle-free for landlords.
Resilience and Recession Proof: Starbucks has proven its resilience during economic downturns, making it a reliable investment even in uncertain times.
Strong Market Fundamentals: The city of Waterloo boasts a robust job market and a growing population.
Iconic Brand Visibility: Starbucks draws customers from the local community and beyond, ensuring a steady flow of visitors and potential sales growth.

Getting around

77/100
Walk Score ®
24/100
Transit Score ®
45/100
Bike Score ®

Powered by Walk Score ®

City Waterloo, IA
Zip Code 50702

Points of Interest

Sam's Club

1.02 miles
Tesla Supercharger

1.63 miles
Green Lots Charger

1.64 miles
Hy-Vee Gas

1.71 miles
Sinclair

2.29 miles
Kwik Star

2.34 miles
Cenex

2.42 miles
Cenex

2.55 miles
Casey's General Store

2.81 miles
Kwik Star #723

2.98 miles

East Side Parking Ramp

1.94 miles
PEC Parking

3.14 miles
Cedar Valley Soccer Complex Parking Lot

3.30 miles
ROTH Lot

5.41 miles
Jennings Drive B Lot

5.48 miles
BCS Lot

5.75 miles
ITC South Lot

5.81 miles
BRC Lot

5.83 miles
ITC Lot

5.89 miles
ITC West Lot

5.90 miles

Dairy Queen

0.97 miles
Culver's

0.98 miles
Marco's Pizza

1.03 miles
Popeyes

1.04 miles
Chilito's Mexican Bar & Grill

1.07 miles
Perkins

1.44 miles
Chick-fil-A

1.53 miles
Hardee's

1.64 miles
Long John Silver's

1.69 miles
A&W

1.69 miles

Byron Super Market

0.68 miles
Fareway

0.81 miles
Hometown Foods

0.83 miles
Hy-Vee

1.03 miles
Sam Club

1.13 miles
Hornbill Asian Market

1.36 miles
ALDI

1.42 miles
Walmart Supercenter

1.58 miles
TJ Maxx

1.61 miles
Hy-Vee

1.71 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

2123 Kimball Avenue