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Walgreens 115 2nd Ave N 14,490 SF Retail Building Sauk Rapids, MN 56379 $5,995,000 ($413.73/SF) 10.76% Cap Rate
INVESTMENT HIGHLIGHTS
- ABSOLUTE NET LEASE - NO LANDLORD RESPONSIBILITIES Walgreens is responsible for taxes, insurance, repairs, maintenance, and full roof replacement etc
- STRONG PERFORMING RELOCATION STORE WITH HIGH VISITOR DATA ACCORDING TO PLACER.AI Prescription sales reporting increased 155% from 2024 to 2025
- PRIME SIGNALIZED CORNER LOCATION & STRONG VISIBILITY NEAR MULTIPLE NATIONAL TENANTS: two hard, signalized corners with three points of ingress/egress
- 10+ YEARS REMAINING ON INITIAL 25 YEAR LEASE WITH PERCENTAGE RENT fifty 1-Year option periods. Percentage rent includes 2% of gross sales
- GLOBAL LEADER IN HEALTHCARE PHARMACY AND RETAIL: serving millions of customers across more than 12,500 locations, generating approximately $1.47B
- STRATEGIC LOCATION NEAR DOWNTOWN SAUK RAPIDS & ST. CLOUD HOSPITAL: 489 bed medical campus serving over 690,000 people
EXECUTIVE SUMMARY
Absolute Net Lease with 10+ Years Remaining
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,490 SF
Building Class
B
Year Built
2011
Price
$5,995,000
Price Per SF
$413.73
Cap Rate
10.76%
NOI
$645,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
1.59 AC
Zoning
C - Commercial
Parking
35 Spaces (2.42 Spaces per 1,000 SF Leased)
Frontage
297’ on 2nd Ave N
AMENITIES
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 19.04825.00 | Improvements Assessment | $1,643,200 |
| Land Assessment | $589,800 | Total Assessment | $2,233,000 |
PROPERTY TAXES
Parcel Number
19.04825.00
Land Assessment
$589,800
Improvements Assessment
$1,643,200
Total Assessment
$2,233,000
CONTACTS
-
Darpan Patel -
Joe Sparano -
Dan Yozwiak -
Sam Elyassaki -
Peter Sibicky -
Paige Bucheit -
Marcus & Millichap
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Walgreens | 115 2nd Ave N
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