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$3,490,000
Est. payment /mo
12,084 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type COMMERCIAL
Listing Status Active
Purchase Type For Sale
Square Footage 12,084 sqft
Price per Sqft $288
MLS Listing ID 155271
Year Built 2022
Property Sub-Type COMMERCIAL
Property Description
3415 Stoneman Road presents the opportunity to acquire a fully leased, multi-tenant retail investment in one of Dubuque's primary commercial corridors. Constructed in 2023, the approximately 12,000-square-foot multi-unit retail building is fully stabilized with five NNN tenants and generates approximately $251,000 in annual Net Operating Income. The tenant mix includes Pizza Hut, Burn Boot Camp, Milan Laser Hair Removal, Switch Homes, and Nekter Juice Bar, providing a diversified income stream from a combination of national corporate tenants, established franchise operators, and successful local businesses. Staggered lease expirations produce a 5.79-year weighted average lease term (WALT), while contractual rent escalations provide built-in revenue growth and the NNN lease structure minimizes landlord responsibilities. Located just off John F. Kennedy Road near U.S. Highway 20, the property benefits from excellent accessibility, strong surrounding retail activity, and visibility adjacent to Kennedy Mall. Continued investment in the corridor, including the recently announced 7 Brew Coffee development directly across the street, further reinforces the area's long-term retail strength. Offered at $3,490,000 (approx. 7.2% cap rate), the property is well suited for 1031 exchange buyers, private equity groups, and investors seeking stabilized cash flow, newer construction, limited capital expenditure requirements, and long-term income growth.
Location
State IA
County Dubuque
Area Dubuque Area
Zoning C3
Interior
Heating Forced Air
Cooling Central Air
Flooring Concrete, Other
Exterior
Roof Type Rubber
Others
Acceptable Financing Cash
Listing Terms Cash
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Listed by Equity Real Estate Group LLC
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