Walgreens 1420 W Oakland Ave 14,733 SF Retail Building Austin, MN 55912 $3,703,703 ($251.39/SF) 6.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN Lease
- Corporate Guarantee - NASDAQ:WBA
- $3,035,754 in Reported Sales
- Zero Landlord Obligations
- Seller will Provide 50% LTV Financing
- Hard Corner Location - 17,400+ VPD
EXECUTIVE SUMMARY
The Kase Group is pleased to present the opportunity to purchase a
Walgreens location in Austin, Minnesota. The lease is corporately guaranteed
by Walgreens and expires in September 2034 with ten, 5-year renewal
options. This site is located at the signalized intersection of Oakland Ave W
and 14th St W with exposure to 17,400+ vehicles per day from combined
roads. The asset is across the street from Austin Mayo Clinic Hospital and
the Westcott Sports Complex. The site borders various retailers including
Dairy Queen, McDonald's, Subway, Kwik Trip, Ace Hardware and more.
Walgreens location in Austin, Minnesota. The lease is corporately guaranteed
by Walgreens and expires in September 2034 with ten, 5-year renewal
options. This site is located at the signalized intersection of Oakland Ave W
and 14th St W with exposure to 17,400+ vehicles per day from combined
roads. The asset is across the street from Austin Mayo Clinic Hospital and
the Westcott Sports Complex. The site borders various retailers including
Dairy Queen, McDonald's, Subway, Kwik Trip, Ace Hardware and more.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,733 SF
Building Class
B
Year Built
2004
Price
$3,703,703
Price Per SF
$251.39
Cap Rate
6.75%
NOI
$250,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.27
Lot Size
1.25 AC
AMENITIES
- Corner Lot
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 34-065-0050 | Improvements Assessment | $1,230,700 |
| Land Assessment | $201,600 | Total Assessment | $1,432,300 |
