Marcus & Millichap closed the sale of an O’Reilly Auto Parts property, a 9,360-square-foot net-lease property in Maquoketa, Iowa. The asset sold for $685,000.
Joseph Van Vuren, associate, and Nicholas Kanich, first vice president, investment specialists with the NGK Net Lease Group in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a Wisconsin-based private investor.
The Texas-based buyer, a limited liability company, was secured and represented by Chris Travis, an investment specialist in Marcus & Millichap’s Tampa office. Jon Ruzicka, Iowa Broker of Record, assisted in closing this transaction.
The O’Reilly Auto Parts property is located at 1006 W. Platt St. in Maquoketa. Built in 1969, the 9,360-square-foot store is located along Maquoketa’s main retail corridor, state Highway 64, near McDonald’s, Subway, Dollar Tree and the intersection with U.S. Highway 61. The property is also less than eight miles from prominent tourist attraction Maquoketa Caves State Park.
