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1423 2nd St N 5,254 SF Retail Building Sauk Rapids, MN 56379 $2,966,000 ($564.52/SF) 5.75% Cap Rate
Investment Highlights
- Investment-grade credit tenant (S&P: BBB+) Holiday Stationstore is a subsidiary of Alimentation Couche-Tard
- Strong 2.5% annual increases
- This is the first time the property has been listed for sale by ownership
- Adjacent to US Route 10, located directly next to the on-ramp and off-ramp of the major Minnesota highway
- Tenant signed a new 10-Year lease in March of 2023 showing a continued long term commitment to this location
- Tenant has been operating out of this location since 1998
Executive Summary
Absolute net lease (NNN) Investment featuring zero landlord responsibilities, providing passive income
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Convenience Store
Building Size
5,254 SF
Building Class
C
Year Built/Renovated
1998/2019
Price
$2,966,000
Price Per SF
$564.52
Cap Rate
5.75%
NOI
$170,545
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
1.09 AC
Parking
10 Spaces (1.9 Spaces per 1,000 SF Leased)
Frontage
255’ on 2nd St N
Amenities
- Pylon Sign
- Signage
Somewhat walkable
20/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 19.00032.00 | Improvements Assessment | $436,900 |
| Land Assessment | $259,600 | Total Assessment | $696,500 |
Property Taxes
Parcel Number
19.00032.00
Land Assessment
$259,600
Improvements Assessment
$436,900
Total Assessment
$696,500
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1423 2nd St N