Fazoli's NNN Property For Sale — Des Moines, IA · 3,350 SF
Des Moines, IA 50310
Single-tenant absolute NNN Fazoli's restaurant located in Des Moines, Iowa. Fazoli's has operated at this location since 1995 and recently executed a lease extension providing over 10 years of primary lease term remaining with zero landlord responsibilities. The lease includes structured rental escalations throughout the primary term and one 10-year renewal option. The 3,350-square-foot building features a drive-thru and is strategically situated along Merle Hay Road (32,200 VPD), a premier commercial corridor surrounded by major retail centers including Merle Hay Mall and Haymarket Mall. The property serves a robust demographic area with over 208,000 residents within a 5-mile radius and an average household income exceeding $90,000. The lease is guaranteed by UP Properties II, LLC, an ex…
- Address: Des Moines, IA 50310
- Asking price $1.30M
- 6.10% cap rate
- NOI $79,000
- 4.6 years remaining
- NNN lease
- Year built: 1973
- Building size: 3,350 SF
- Lot size: 0.78 acres
- Lease expiration: May 29, 2031
- Rent increases: 2022: $82,000; 2025: $88,150; 2029: $94,761; 2031 (Option): $101,868; …
- Guarantor: Corporate
Location
This Fazoli's property is in Des Moines, Iowa.
Asset type: QSR