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Dollar Tree - 2023 Renovation 101 E Main St 20,000 SF Retail Building Crosby, MN 56441 $2,200,000 ($110/SF) 8.65% Cap Rate
Investment Highlights
- High Yield 8.20 Cap at List | Make an Offer Immediately
- 2023 Renovations to Large Existing Building (20,000 SF)
- Excellent Access | Commercial Corridor of Crosby – Major Resort Area/Town
- Long-Term Net Lease | 10-Year Primary Term
- High Residual: Low Price/SF and Rent/SF
- New Store Concept | Proving to be Better Store Performance
Executive Summary
Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase a fee simple interest in the Dollar Tree property located in Crosby, Minnesota (the “Property”). The Property consists of a 20,000-square-foot freestanding retail building on a 0.99-acre parcel of land. Dollar Tree is operating under a 10-year, net lease with limited landlord responsibilities. The lease also features 5, 5-year extension options with rent escalations at the beginning of each option term, offering investors a hedge against inflation. See Lease Abstract for full details.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
20,000 SF
Building Class
C
Year Built
1990
Price
$2,200,000
Price Per SF
$110
Cap Rate
8.65%
NOI
$190,300
Tenancy
Single
Building Height
1 Story
Building FAR
0.46
Lot Size
0.99 AC
Zoning
Commercial
Parking
57 Spaces (2.85 Spaces per 1,000 SF Leased)
Frontage
191’ on East Main Street
Fairly walkable
40/100
Exceptionally drivable
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,093,000 | |
| Land Assessment | $199,000 | Total Assessment | $1,292,000 |
Property Taxes
Parcel Numbers
Land Assessment
$199,000
Improvements Assessment
$1,093,000
Total Assessment
$1,292,000
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Dollar Tree - 2023 Renovation | 101 E Main St
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