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1414 S 12th Ave 57,248 SF 100% Leased Retail Building Virginia, MN 55792 $3,797,000 ($66.33/SF) 8.01% Cap Rate
Investment Highlights
- Low Average Rent PSF/Building Price PSF - The average rent per square foot for the Property is less than $6 per square foot net
- Well Located within the Trade Area - Located directly on Highway 53, the primary north south thoroughfare that connects Duluth to the Iron Range
- Captive Trade Area -The population of Virginia is 8,500 but the trade area is expansive and includes over 70,000 people spanning over a 20-mile radius
- Zero Interior Mall Expenses - The property benefits from being connected to the mall but does not contribute to the interior mall expenses.
- Mall Redevelopment - The interior portion of the Uptown Virginia Mall is going through a renovation that includes a new Marshall’s opening 2026.
Executive Summary
**UPTOWN VIRGINIA MALL (THREE TENANT GROCERY ANCHORED CENTER) - 1401-1414 S 12th Ave W, Virginia, MN 55792** Exciting investment opportunity! Presenting the Uptown Virginia Mall, a thriving retail property in Virginia, MN. Boasting a prime location with high visibility on Highway 53, this 57,248 SF grocery anchored mall features Aldi, Tractor Supply, and Harbor Freight. The year 1 NOI is $341,242 with a solid 100% occupancy rate and fantastic potential for future rent growth, priced at an attractive $70 PSF. Set in a high-traffic area connecting Duluth to the Iron Range, this property benefits from a captive trade area of over 70,000 people within a 20-mile radius. Additionally, the mall is strategically positioned near major retailers like Target, Menards, and Walmart. With a renovation plan underway and a new Marshall’s store scheduled to open in 2026, the Uptown Virginia Mall is a fantastic investment opportunity not to be missed.
Property Facts
Sale Type
Investment
Property Type
Building Size
57,248 SF
Building Class
B
Year Built/Renovated
1971/2017
Price
$3,797,000
Price Per SF
$66.33
Cap Rate
8.01%
NOI
$304,086
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.06
Lot Size
21.34 AC
Zoning
SC - Shopping Center
Parking
14 Spaces (0.24 Spaces per 1,000 SF Leased)
Nearby Major Retailers
1 of 10
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1414 S 12th Ave
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