Property Description

This is a great opportunity to acquire a 28,000sf 3 unit grocery-anchored NNN leased retail shopping center on 3.7 acres occupied by Perry's Piggly Wiggly, an established operator with stores in the Cambridge, Edgerton, Cottage Grove, and Waterloo markets. This property at 810 N. Monroe St. is highly visible along Waterloo's main street directly across from Waterloo High School. The Piggly Wiggly suite is 20,000sf with a loading dock. The 5,400sf vacant suite has tile floor with an exterior loading area and the 2,595sf vacant suite is finished office/retail space and they could be easily combined. The tenant in the 2,595sf suite is paying rent through July 2027 but isn't occupying the space. This property is priced at a 7.48% cap rate based on income from Piggly Wiggly and the 2,595sf suite, leaving value to be added from leasing the vacant 5,400sf suite. Piggly Wiggly just signed a 5 year NNN lease through September 30, 2031 with 20 years of renewal options...

Property Features