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Walgreens: St. Paul, MN 1665 White Bear Ave N 15,085 SF Retail Building Saint Paul, MN 55106 $2,500,000 ($165.73/SF) 8% Cap Rate
Investment Highlights
- Walgreens at this location 22+ years with a recently executed long-term extension
- 92% rent increase at onset of first renewal option in October 2034
- Corporately guaranteed lease from Walgreens
- ±8 years remaining on NNN lease with Ten 5-year extension options
- 5-mile average household income of $114,427 with 370,331 residents
- Essential retailer with consistent operations and rent payments through COVID-19
Executive Summary
Kurt Sauer
License # 40628602, 41005445 (MN)
Matthews of Minnesota, LLC
701 Xenia Ave S, Ste 485 Minneapolis MN 55416
(866) 889-0550
License # 40628602, 41005445 (MN)
Matthews of Minnesota, LLC
701 Xenia Ave S, Ste 485 Minneapolis MN 55416
(866) 889-0550
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
15,085 SF
Building Class
C
Year Built
2003
Price
$2,500,000
Price Per SF
$165.73
Cap Rate
8%
NOI
$200,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.28
Lot Size
1.25 AC
Zoning
T2 - Traditional neighborhood district.
Parking
56 Spaces (3.71 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Fairly walkable
50/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 22-29-22-11-0154 | Improvements Assessment | $2,424,100 |
| Land Assessment | $679,500 | Total Assessment | $3,103,600 |
Property Taxes
Parcel Number
22-29-22-11-0154
Land Assessment
$679,500
Improvements Assessment
$2,424,100
Total Assessment
$3,103,600
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Walgreens: St. Paul, MN | 1665 White Bear Ave N
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