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Take 5 Oil Change | 15-Yr SLB | Absolute NNN 1738 S Broadway 1,661 SF Retail Building Minot, ND 58701 $1,577,000 ($949.43/SF) 6.85% Cap Rate
Investment Highlights
- New 15 Year Lease | Options To Extend | Scheduled Rental Increases | Strong Tenant
- Dakota Square Mall (4M+ Visits) | Automotive Corridor | Frontage Visibility | Minot State University
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased Take 5 Oil Change investment property located in Minot, North Dakota. The tenant will sign a brand-new, 15-year lease with four (5-year) options to extend, at the close of escrow, demonstrating their commitment to the site. The lease features 6% rental increases at the end of year five and then annual 1.5% rental increases for the remainder of the initial term and throughout each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor.
Property Facts
Sale Type
Investment NNN
Sale Condition
Sale Leaseback
Property Type
Retail
Property Subtype
Building Size
1,661 SF
Building Class
B
Year Built/Renovated
1959/2024
Price
$1,577,000
Price Per SF
$949.43
Cap Rate
6.85%
NOI
$108,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
0.43 AC
Zoning
C2 - General Commercial
Parking
13 Spaces (7.83 Spaces per 1,000 SF Leased)
Amenities
- Corner Lot
- Pylon Sign
- Signage
Walk Score®
Very Walkable (71)
Nearby Major Retailers
Property Taxes
| Parcel Number | MI-26358-020-004-3 | Improvements Assessment | $119,500 |
| Land Assessment | $159,500 | Total Assessment | $279,000 |
Property Taxes
Parcel Number
MI-26358-020-004-3
Land Assessment
$159,500
Improvements Assessment
$119,500
Total Assessment
$279,000
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Take 5 Oil Change | 15-Yr SLB | Absolute NNN | 1738 S Broadway
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