Fleet Farm 310 50th Ave W 191,834 SF Retail Building Alexandria, MN 56308 $27,863,271 ($145.25/SF) 7% Cap Rate

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Fleet Farm property located in Alexandria, Minnesota. Fleet Farm has a successful operating history at this location since 2000. Fleet Farm is currently operating on a long-term lease through October 2041. The lease is absolute triple net and features no landlord responsibilities. There are 2% annual rental escalations throughout the primary term. The lease also contains four 5-year renewal options.
The 191,834-square-foot building is located along 50th Avenue Southeast and is near Interstate 94, which sees over 17,000 vehicles daily and connects to Minneapolis. Situated in the area’s primary retail corridor, the property is surrounded by major retailers, including Menards, Target, Walmart, ALDI, and national dining chains like McDonald’s, Culver’s, Taco Bell, and Starbucks. Just minutes from Alexandria Area High School, with 1,300 students, the property serves a population of over 30,000 within a 10-mile radius, where the average household income exceeds $102,000.
Fleet Farm is a beloved Midwestern retail chain that has been serving hardworking families since its founding in 1955 by Stewart Mills Sr. Originally established as Fleet Wholesale Supply in Marsh?eld, Wisconsin, the company evolved into a comprehensive one-stop shop offering a wide array of products, including farm supplies, hunting and ?shing gear, outdoor equipment, automotive parts, tools, home improvement items, and everyday essentials. With a commitment to Midwestern values like quality, value, and exceptional customer service, Fleet Farm operates over 50 stores across Minnesota, Wisconsin, Iowa, North Dakota, and South Dakota. Headquartered in Appleton, Wisconsin, the retailer was acquired by global investment ?rm Golub Capital in 2024, which has fueled its ongoing growth and adaptation to modern consumer needs.