January 8, 2024 – Kyle Danielson and Ryan O’Rourke of Horvath & Tremblay have successfully completed the sale of Scooter’s in Centerville, Iowa. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $875,000.
Scooter’s is located 715 East Maple Street in Centerville, Iowa. The free-standing single tenant Scooter’s Coffee consists of a 664 square foot building with a drive-thru. Scooter’s signed a new 15-year Absolute NNN lease with four (4), five-year renewal options at the close of escrow. The lease calls for attractive 2% annual increases in rent beginning in year 6 and continuing throughout the base term and renewal options. The Property is extremely well located at the signalized intersection of E Maple Street and N 18th Street, the area’s two primary commercial and commuter corridors. Located in the heart of Centerville, Scooter’s is 0.4-miles from The Appanoose County Courthouse (the Town Green) and is part of the downtown business district, with numerous businesses, restaurants and retailers drawing traffic to the area. The Property is positioned in between the area’s two grocery stores (a Hy-Vee Grocery Store and Fareway Grocery Store) on N 18th Street and is close to several area schools: Centerville High School 0.7-miles, Howar Middle School 0.9-miles, and Lakeview Elementary School 1.3-miles. Scooter’s is also convenient to several large industrial centers in the southeast corner of the city.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.