CAP Rate: 6.15%
Lot Size: .45 AC
The subject offering is a KFC/Taco Bell restaurant in Madison, Iowa. The property is subject 20 year NNN lease which commenced in November 2016. The lease calls for annual increases of 1.5% and one 10 year option to renew. The lease calls for zero landlord obligations. The asset is just off of Iowa Highway 9.
Fort Madison is a city and a county seat of Lee County, Iowa, United States along with Keokuk. Of Iowa’s 99 counties, Lee County is the only one with two county seats. The population was 11,051 at the 2010 census. Located along the Mississippi River in the state’s southeast corner, it lies between small bluffs along one of the widest portions of the river.