$1,300,000
COUNCIL BLUFFS, IA 51501
MLS# 25-1193
Status: Closed
8400 sqft
1 / 14
Property Description
This 2005 built shopping plaza offers 8400SF of leasable space. The property is well maintained, fully leased, offers a diverse tenant base and comes with great visibility being situated just off one of the busiest traffic light intersections in Council Bluffs at 16th and Broadway! With Triple Net leases on all suites, this property offers a solid and stable income with more upside potential, the longer leases have built in escalations, and others offer opportunity for renegotiation in the nearer future. With bays ranging from 800-1680SF each, these spaces have a strong demand from tenants of all use types. With the current lease rates set to go into place 8/1/25 and the last 12 months operating expenses for comparison, this property is being offered at close to a 9% CAP rate!
Details
Maps
Contract Information
Current Price: $1,300,000
Status: Closed
Listing Date: 2025-06-20
Sold Price: $1,300,000
Sale: For Sale
Bank Owned?: No
Agent Equity: No
General Property Description
Type of Property: Real Estate Only
Location: Strip Center
Leased: Multiple Tenants
Building Size: 5,001 - 10,000
Exchange: No
Bldg Expandable: No
Addl Land Availble: No
Year Built: 2005
SF Office: 8400
Tot Fnshd SF: 8400
Lrgst Cnt SF Lease: 1680
Lot Dimensions: 228x120
Currently Not Used
Lot Size: 0.63 Acres
Location, Tax & Legal
Area: Area 4
House #: 1505/1509
Street Direction Pfx: W
Street Name: BROADWAY
State/Province: IA
County: POTTAWATTAMIE
Zip Code: 51501
Status Change Info
Status Change Date: 2025-10-10
Under Contract Date: 2025-09-11
Sold Date: 2025-10-08
Sold Price: $1,300,000
Type Of Financing: Conventional
Mortgage Info
Gross Taxes: 48914
Status Info
Sold Status: Sold Inner Office
REIDS Incl Sale Prc: No
Sale Price Incl Lot: Yes
Photo Certification
I own the photos or have the right to use.: Yes
Property Features
Terms: Sell In Entirety
Potential Use: Diversified; Grocery; Medical; Office; Professional; Restaurant; Retail; Other - See Remarks
Documents on File: Aerial Photo; Legal Description; Operation Statement
Parking: Parking Area; Paved; 20 - 50
Construction: Conc Poured
Number of Stories: One
Floors: Conc Slab
Walls: Drywall
Roof: Flat
Ceiling Height: 9'
Door Height: No - OHD
Door Width: No - OHD
Docks: None
Flood Zone: None
Possession: At Closing; Subject to Tenant
To Show: Call Agent
Utilities: Electricity; Gas; Sewer; Water
Listing Office: Heartland Properties
Last Updated: July - 01 - 2026
Information deemed reliable but not guaranteed.