1087 3rd St NW
Roseau, MN 56751
Retail Property For Sale

The subject property is a freestanding, 29,812-square foot building, occupied by Shopko Hometown. It is located in Roseau, Minnesota. The property sits just off of Highways 89 & 11, the major thoroughfare through the city. The property benefits from minimal local competition, and the nearest Shopko Hometown is 25 miles away. The tenant originally opened at this location as Pamida in 1990, signing a 20-year NNN lease. The store was remodeled in 2012 after Pamida merged with Shopko. The store now operates as a Shopko Hometown. The tenant recently executed an early lease renewal, bringing the remaining lease term to just under ten years. Their current rent rate is below average for Shopko, at just $5.61 per square foot. There is a rental increase of 10 percent in the next renewal option. Shopko is a $3 billion retailer that operates over 330 stores in 21 states throughout the Midwest, Mountain, North Central and Pacific Northwest regions. They provide quality name-brand merchandise, great values, pharmacy and optical services in small to mid-sized cities. The City of Roseau serves as the county seat for Roseau county. It is home to major manufacturers, Marvin Windows and Polaris Industries. Roseau carries a population of roughly 2,700 residents.