RETAIL SPACEThis is a single tenant Pizza Ranch building constructed in 2006 and completely remodeled in 2018. The property is on a new triple net lease with the operator for an additional 15 years (started in 2018). Same store sales have been consistently strong. Pizza ranch is a 38 year old privately held company with over 207 locations in 14 mid-western states

CONTACT USMIKE MACRI III, CCIMVice President+1 515 221 6625mike.macri@cbre-hubbell.com Licensed in the State of Iowa.

PIZZA RANCH INVESTMENT OPPORTUNITYNNN INVESTMENT OPPORTUNITY465 CENTER PL, ALTOONA, IOWA

FOR SALE

CBRE|HUBBELL COMMERCIAL6900 Westown Parkway West Des Moines, Iowa 50266www.cbre.com/desmoines

LISTING# 1500765

+ Available Space

− 4,514 SF finished area

+ Asking Price

− $1,800,000

− Cap Rate: 7.3%

+ Investment Highlights

− 15 yr. NNN leased property (14 years remaining term)

− C4 zoned single tenant restaurant property

− .72 Acre parcel

− Newly remodeled

− Flat roof- rubber membrane

− Frame construction

− Built in 2006, remodeled in 2018

− Long-term net leased

− Experienced franchise

FOR SALEPIZZA RANCH

NNN INVESTMENT OPPORTUNITY465 CENTER PL, ALTOONA, IOWA

PRAIRE HERRITAGE

CIVIC PLAZA465 CENTER PLACE

1-Mile 3-Mile 5-Mile

Population 11,186 24,227 57,987

Daytime Population 7,924 22,352 45,881

Average HH Income $91,749 $95,487 $82,434

Median Age 34.6 36.00 36.3

Address SF OccupancyLease Term

(yrs)YearBuilt

CurrentLease Start

Lease Expiration

Current Monthly Rent

2019 Net IncomeOptions to

Renew

465 Center Place 4,514 NNN lease 15 2006 2018 2033 $11,000.00 $132,000.00 Yes

FINANCIAL OVERVIEW

© 2019 Hubbell Commercial Brokers, L.C., d/b/a CBRE|Hubbell Commercial. We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdraw without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

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FOR SALEPIZZA RANCH

NNN INVESTMENT OPPORTUNITY465 CENTER PL, ALTOONA, IOWA