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700 11th St SW
Spencer, IA 51301

$5,336,500 USD

General Retail For Sale  •  42,516 SF

Property Details

  • Property Type General Retail
  • Total Building Size 42,516 SF
  • Lot Size 9 AC
  • Building Class C
  • Year Built 1999
  • Cap Rate 7.00 %
  • Tenancy Multiple
  • Zoning C-2
40 Walk Score

Highlights

Prime Location | Situated on the main retail corridor in Spencer, providing unique tenant appeal and long-term real estate value.
High Credit Anchor Tenant | TJ Maxx committed to a long-term lease at the site, and has an S&P Credit Rating of A and over 1,300 locations nationwide
Recent Capital Improvements | Parking lot was fully replaced in 2023, West Wing Roof replaced in 2025, East Wing Roof replaced in 2023
Strong Tenancy Mix | 80% of the GLA is Occupied by National Tenants (TJ Maxx, Maurices, Cricket Wireless, Rent-A-Center).
Value-Add Potential | Upside opportunity through leasing two vacant units totaling 2,560 Sqft.
Recently Extended Leases | Four Tenants Recently Extended Their Leases, Demonstrating Their Commitment to the Site.

Property Flyers

Cap Rate: 7.00 %

Major Tenants

Tenant SF Occupied Lease End Date
Check Into Cash
Cricket
LA Nails
Maurices
Monterrey Mexican Restaurant
Rent-A-Center
Smoke, E-Cigs and Vapes
Spencer Mattress
TJ Maxx
Tobacco Vape & E-Cig

Amenities

  • Dedicated Turn Lane
  • Freeway Visibility
  • Security System
  • Signage
  • Wheelchair Accessible
  • Air Conditioning
  • Smoke Detector

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 201
Type: Surface
Included in Rent: Yes
Michael Scali 914-582-8281 SAB Capital
Michael Scali 914-582-8281 SAB Capital