1914 E 18 Highway, Algona IA, 50511

Property Description

This property provides the opportunity to acquire a 17,910 SF retail center in Algona, Iowa, located on heavily traveled Hwy 18 E at a cap rate of 6% on In-Place income. The property is 82% leased with a diverse mix of occupants. Current vacancies and below market rents provide an investor upside over time to increase yield. The retail center is strategically located near a grocery store, upscale restaurant, hotel and auto parts store. Eastland Hill Plaza provides fortuity to purchase a multi-tenant retail center at far below replacement cost with concurrent benefit that accompanies lease up of vacant suites and moving low legacy rents to market.