Generation Income Properties completes $5.5M acquisition of Ames, IA retail property leased to Best Buy

GENERATION INCOME PROPERTIES, INC.

Acquired 30,465 sq ft single-tenant retail property in Ames, Iowa on August 23, 2024 for ~$5.5M.
Property is 100% triple-net leased to Best Buy through March 2030 with two five-year renewal options.
Funded by $3.08M preferred equity from JCWC Funding and $2.495M debt from Valley National Bank.
Property generated $535,419 rental revenue and $405,470 excess over certain expenses in FY2023.
Pro forma financial statements filed to reflect acquisition as if effective January 1, 2023.

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