Fortis Net Lease is pleased to present Woodbury Center, a shopping center located in Sioux City, IA. Woodbury Center is a 12 tenant retail shopping center comprised of 32,256 SF. Given the nature of the NN leases there are minimal landlord responsibilities, as the landlord is only responsible for the capital repair and replacement to the roof and structure. Tenants pay pro-rated share of taxes, insurance and CAM.The owner is in the process of putting on a new roof, with a 15 year warranty.
Woodbury Center is highly visible as it is strategically positioned on Gordon Dr, a main thoroughfare in Sioux City. All tenants will benefit from being located on Gordon Dr, as there is 23,700 cars per day traveling on the street. The population within 5 miles exceeds 100,000 with the average household income within one mile being greater than $32,000. The Subject offering represents an ideal opportunity for a buyer to attain the fee simple ownership of a multi tenant shopping center. This investment will offer a new owner continued success due to the strength of this location. List price reflects a 7.65% cap rate based on NOI of $252,107.
• 12 Tenant Center | 78.7% Leased
• Double Net (NN) Leases, Minimal Landlord Responsibilities
• 23,700 Cars Per Day Traveling Gordon Dr.
• Sioux City is Home to Many Colleges and Universities
• 5 Mile Population Exceeds 100,000 | $32k+ Average Household Income
• Consumer Spending within Five Miles $535 Million
• Seller is Wiling to Manage the Property for One Year After Closing
Instate Broker of Record: Steve Moore | Steve Moore Real Estate | License #: B20464000