Address: 1334 Edgewood Road SW, Cedar Rapids, Iowa, United States 52404
Cap Rate: 6.00%
Annual Rent: $117,180
Net Operating Income: $117,180
Rentable Sq/Ft: 2,825 SF
Rent Sq/Ft: $41.48
Price Sq/Ft: $691
Lot Size: 0.49
This KFC property is situated on Edgewood Road SW, which boasts an average daily traffic count of 20,000 vehicles. Edgewood Road SW intersects with 16th Avenue SW which brings an additional 17,000 vehicles into the immediate area on average daily. This site is centrally located in a densely populated residential area. There are more than 55,000 individuals residing within a three-mile radius of the property and more than 109,000 individuals within a five-mile radius, with the population expected to increase in the next five years.
The subject property benefits from being well-positioned in a dense retail corridor consisting of national and local tenants, shopping centers and other notable points of interest all within close proximity of this property. Major national tenants in the area include: Walgreens, CVS, Wells Fargo, Taco Bell, Buffalo Wild Wings, Arby’s, Starbucks as well as many others. This KFC also benefits from an affluent surrounding area with over $77,000 average household income.
Cedar Rapids is the second-largest city in Iowa and is the county seat of Linn County. The city lies on both banks of the Cedar River, 20 miles north of Iowa City and 100 miles northeast of Des Moines, the state’s capital and largest city. Cedar Rapids is nicknamed the “City of Five Seasons”, for the so-called “fifth season,” which is time to enjoy the other four. The symbol of the five seasons is the Tree of Five Seasons sculpture in downtown along the north river bank. The name “Five Seasons” and representations of the sculpture appear throughout the city in many form. Cedar Rapids is an economic hub of the state, located at the core of the interstates 380 corridor. Cedar Rapids is one of the largest cities in the world for corn processing. The grain processing industry is Cedar Rapids’ most important sector, directly providing 4,000 jobs that pay on average $85,000, and also providing 8,000 indirectly. Fortune 500 company Collins Aerospace and trucking company CRST are based in Cedar Rapids, and Aegon has its United States headquarters there. A large Quaker Oats mill, one of the four that merged in 1901 to form Quaker Oats, dominates the north side of downtown. Other large companies that have facilities in Cedar Rapids include Archer Daniels Midland, Cargill, General Mills, Toyota Financial Services and Nordstrom.
IA Broker of Record Jon Ruzicka License: BK63379000