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Thrifty White Pharmacy 210 N Main St

5,672 SF 100% Leased Retail Building Clarion, IA 50525 $496,114 CAD ($87 CAD/SF) 11% Cap Rate

Drug Stores Iowa Clarion 210 N Main St, Clarion, IA 50525

Executive Summary

This commercial property is home to Thrifty White Pharmacy a powerful, regional chain w/ 91 stores. Clarion is the county seat for Wright County, pop. 12,644. Thrifty has Leased since 2013, current lease through March 2028 with a recent extension until March 2031. Tenant pays property taxes and repairs up to $400. Tenants have put in nearly $100,000 in recent upgrades including a new roof in 2018, repaired the back wall, electrical updated in 2021, new a/c unit in 2023, new back doors, and garage door in 2024. Income: Commercial 3400 sq/ft + 450sq/ft cold storage = $2,475/ mo Apartments: 2 units each unit approx. 1,200 sq/ft = $1,225/mo. Gross Rents: $44,400/yr. Expense: Insurance $2,400/yr Mgt fee $2,200/yr Maintenance $2,000/yr Total $6,600/yr Net $37,800/yr Based on $350,000 price/$37,800 NOI shows around 11% ROI

Financial Summary (Actual - 2023)

Annual (CAD) Annual Per SF (CAD)
Gross Rental Income $63,503 $11.20
Other Income - -
Vacancy Loss - -
Effective Gross Income $63,503 $11.20
Net Operating Income - -

Financial Summary (Actual - 2023)

Gross Rental Income (CAD)
Annual $63,503
Annual Per SF $11.20
Other Income (CAD)
Annual -
Annual Per SF -
Vacancy Loss (CAD)
Annual -
Annual Per SF -
Effective Gross Income (CAD)
Annual $63,503
Annual Per SF $11.20
Net Operating Income (CAD)
Annual -
Annual Per SF -

Property Facts

Sale Type
Investment
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Drug Store
Building Size
5,672 SF
Building Class
C
Year Built
1900
Price
$496,114 CAD
Price Per SF
$87 CAD
Cap Rate
11%
NOI
$54,573 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.22
Lot Size
0.11 AC
Zoning
Commercial - CLARION CORP URBAN RENEWAL#1

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease End
  • Retailer
  • -
  • -
  • Dec 2031

Thrifty White PHARMACY is committed to providing healthcare to small towns and cities in the rural Midwest that range from 5,000 to 50,000 in population. The 90+ locations across Minnesota, North Dakota, South Dakota, Iowa, Montana and Wisconsin provide services and programs that make it easier for patients to get the prescriptions they need, optimize patient's prescription drug regimen, and allows the pharmacist to spend more time interacting with patients to increase medication compliance and improve patient health. Thrifty White Pharmacy continues to find innovative ways to serve the patients in our communities - from opening their first tele-pharmacy in 2003 to expanding their patient care service offerings.

Tenant Industry SF OCCUPIED RENT/SF Lease End
Retailer - - Dec 2031
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PROPERTY TAXES

Parcel Number 07-31-364-010 Improvements Assessment $156,341 CAD (2024)
Land Assessment $13,182 CAD (2024) Total Assessment $169,523 CAD (2024)

PROPERTY TAXES

Parcel Number
07-31-364-010
Land Assessment
$13,182 CAD (2024)
Improvements Assessment
$156,341 CAD (2024)
Total Assessment
$169,523 CAD (2024)
(515) 450-0590

Contact

  • Listing ID: 34148769

  • Date on Market: 2024-12-10

  • Last Updated:

  • Address: 210 N Main St, Clarion, IA 50525

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Thrifty White Pharmacy | 210 N Main St
(515) 450-0590 x

Thrifty White Pharmacy | 210 N Main St

Mark Greenfield

(515) 450-0590

(515) 450-0590

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