Description
The KataLYST Team by KW Commercial is pleased to present 608 8th Street SW, Altoona, Iowa — an exclusive opportunity to own a second-generation retail asset in one of Des Moines’ consistently growing suburbs.
Built in 1997 and thoughtfully maintained, this 12,080 SF property offers the perfect blend of stability and upside. Currently 68.3% occupied, the center generates reliable income from multiple tenants, with the remaining space representing a true value-add opportunity for new ownership. A savvy investor who leases the balance can unlock a 7.67% cap rate and a projected 10.58% first-year return on investment — while enjoying minimal ownership responsibilities thanks to its triple net structure.
Details
Address: 600 8th Street
City & State: Southwest Altoona, IA
Current Price: $1,985,000
Building SF: 12,080 SF
Price / SF: $164.32
CAP Rate: 3.80%
Year Built: 1997
Property Highlights
- A well-located, inflation-resistant retail center on Altoona’s busy 8th Street corridor.
- A property with built-in stability and value-add potential through increasing occupancy.
- Cash flow from day one, with the ability to enhance returns by stabilizing the center.
- A straightforward, easy-to-manage investment positioned to perform in today’s market.