December 14, 2023 – Kyle Danielson and Ryan O’Rourke of Horvath & Tremblay have successfully completed the sale of Scooter’s in Muscatine, Iowa. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $925,000.
Scooter’s is located 3949 Mulberry Avenue in Muscatine, Iowa. The free-standing single tenant Scooter’s Coffee consists of a 664 square foot building with a drive thru. Scooter’s will sign a new 15-year Absolute NNN lease with three (3), five-year renewal options at the close of escrow. The lease calls for attractive 2% annual increases in rent throughout the base term and renewal options. The Property is extremely well located at the signalized intersection of Mulberry Avenue and Blues Highway (US Highway 61). Blues Highway (US Route 61) is the area’s primary commuter corridor running along the northern perimeter of Muscatine. The Property features outstanding frontage, visibility, and access and is perfectly positioned to capture motorists commuting to and from work. Mulberry Avenue directly connects the Property with Muscatine’s downtown along the banks of the Mississippi River and makes the site easily accessible for the town’s residents. Muscatine is strategically located at a crossroads of various modes of transportation for both commuters and freight travel. Interstate 80, U.S. Highways 61 & 6, and State Highways Iowa 22 & 38 all provide regional commuting options for the growing workforce. The location also benefits from easy access to the Muscatine Municipal Airport, the Canadian Pacific Railroad service, and freight service on Mississippi River waterways.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.