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INVESTMENT HIGHLIGHTS
Close Proximity To Iowa State University Sam’s Place is located less than one mile from Iowa State University, the largest university in the State of Iowa with over 30,000 students.
Center to the Revitalization of Downtown Ames, Iowa The City of Ames has committed to revitalizing Downtown Ames, specifically Main St and its surrounding areas. Sam’s will continue to benefit from this 15 year master plan, which includes grants to improve building facades, promoting redevelopment, identifying housing opportunities, and increasing economic development. A prime example is The Linc, a $150 million redevelopment project that sits just south of Sam’s Place on Lincoln Way, that will include residential apartments, commercial and office space, as well as a hotel and conference center. Construction of The Linc is slated to begin in late 2024.
Significant Tenant Investment The owner has invested over $2.2 million into the property, including a new roof, HVAC system, a reframe of the building, and more.
Conservative Rent Structure Sam’s Place will execute a market rate retail lease at $20/ft NNN, which will yield a conservative 4x+ rent coverage and a Rent/Sales Ratio of nearly 20%.
Excellent Location on Main Street Sam’s Place is located in the heart of Downtown Ames on Main St, benefiting from regular foot traffic and city sponsored events, including the Farmers Market, Summer Sidewalk Sales, the Music Walk, Small Business Weekend, and more.
Long-Term Absolute NNN Lease with Annual Increases The tenant will be executing a brand new, 20 Year Absolute NNN Lease with annual rent increases of 2.5%, providing an investor with an incredible long term passive investment.
