This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
1300 Charles St
Park Rapids, MN 56470
Dollar Tree · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Walmart Supercenter Outparcel
- Original 10-Year Lease | 5 Years Remaining
- Two, Five-Year Renewal Options Available | $.50psf Rent Increases in Each Option
- Built-to-Suit for Dollar Tree in 2014 | Zero Deferred Maintenance
- Modified NNN Lease | Minimal Landlord Responsibility
- Investment Grade BB+ Credit Rating (Standard & Poor’s)
PROPERTY FACTS
ABOUT 1300 CHARLES ST , PARK RAPIDS, MN 56470
Marcus & Millichap is pleased to exclusively present for your acquisition review the net leased Dollar Tree in Park Rapids, Minnesota. The 8,000 square foot building was built-to-suit for Dollar Tree in 2014, with Dollar Tree signing an original 10 year lease. The current lease expiration is January 31, 2025 leaving about 5 years of base lease term left with a $.50/psf rent increase in each of the renewal options. The lease is modified triple net, with the landlord being responsible for the roof and structural components of the building and the tenant responsible for all common area maintenance, real estate taxes and insurance. The Dollar Tree is ideally positioned as an outparcel to the Walmart Supercenter behind it, and sits next to L&M Fleet Supply and a BP Gas Station. The building has excellent exposure just off 1st Street and benefits from the lack of discount store competition nearby. There are several other national retailers in the Park Rapids market including McDonald’s, Dairy Queen, Walgreens, Anytime Fitness, O’Reilly Auto Parts, L&M Flett Supply, AmercInn by Wyndham, Super 8 Motel and others. Dollar Tree is a Fortune 150 company and operates more than 15,115 locations across 48 states and Canada. In July 2015, Dollar Tree completed its purchase of Family Dollar after a long-awaited completion of the deal that drew close to a yearlong takeover saga that included a hostile buyout attempt from another discount retailer, Dollar General.
PROPERTY TAXES
| Parcel Number | 32.19.00210 | Improvements Assessment | $392,600 |
| Land Assessment | $85,300 | Total Assessment | $477,900 |
PROPERTY TAXES
