While
all reasonable efforts are made, we cannot guarantee the accuracy
of the information below. To obtain current information on any
property, please contact
Skogman Commercial Group at (319) 363-8286
Commercial
5245 NORTHLAND AVE NE
NE
5245 NORTHLAND AVE NE
Cedar Rapids
LINN
$6,900,000
Y
N
1
0
35556
0
N
$194.06
ROCKWELL CHILD
C-2
IMMEDIATE
78,664
3.23 ACRE
2009
Remarks
ABSOLUTE NET, SINGLE TENANT INVESTMENT WITH NYSE LISTED ROCKWELL COLLINS, INC (ROK) ON LONG TERM LEASE. PROPERTY IS NEAR THE ROCKWELL CAMPUS. CURRENT NOI IS $535,118. FACILITY IS A 35,556 SQUARE FOOT, STATE OF THE ART CHILE CARE AND LEARNING CENTER COMPLETED IN AND OPENED IN 2009. FACILITY HAS 2 CLASSROOMS, FIVE OUTDOOR PLAY AREAS AND CAPACITY FOR 448 CHILDREN.NEW ROOF, NEW MECHANICALS, NEW ELECTRICAL ALL IN 2009. LEASE IS A TRUE ABSOLUTE NET LEASE--TENANT IS RESPONSIBLE FOR ALL ASPECTS OF MAINTENANCE, STRUCTURE, PROPERTY TAXES AND INSURANCE. NOI IS $535,118. 9 YEARS LEFT ON THE LEASE AS OF JANUARY 1, 2010. UNDER THE TREMS OF THE LEASE, ROCKWELL HAS THE OPTION TO PURCHASE THE FACILITY ON JANUARY 1, 2010 FOR $13,377,945.
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