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Former C-Store / Subway | Melrose, MN 406 S 2nd Ave E 4,388 SF 100% Leased Retail Building Melrose, MN 56352 $700,000 ($159.53/SF)
EXECUTIVE SUMMARY
Dual Build-Out with Drive-Thru: Flexible configuration supports a variety of future uses.
Excellent Access & Circulation: Five points of ingress/egress allow for smooth traffic flow and customer convenience.
Strategic Location: Positioned to capture traffic from Melrose’s residential neighborhoods heading south toward I-94.
Supplemental Rental Income: Existing Subway tenancy provides ongoing income.
Strong Market Fundamentals: Retail submarket vacancy at just 3.9% with no current construction, supporting long-term stability.
Healthy Retail Market: Low 3.9% vacancy rate with no new retail development underway, creating a stable and competitive environment.
Excellent Access & Circulation: Five points of ingress/egress allow for smooth traffic flow and customer convenience.
Strategic Location: Positioned to capture traffic from Melrose’s residential neighborhoods heading south toward I-94.
Supplemental Rental Income: Existing Subway tenancy provides ongoing income.
Strong Market Fundamentals: Retail submarket vacancy at just 3.9% with no current construction, supporting long-term stability.
Healthy Retail Market: Low 3.9% vacancy rate with no new retail development underway, creating a stable and competitive environment.
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
High Vacancy Property
Property Type
Retail
Property Subtype
Building Size
4,388 SF
Building Class
C
Year Built
1987
Price
$700,000
Price Per SF
$159.53
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.12
Lot Size
0.84 AC
Zoning
Commercial
Parking
25 Spaces (5.7 Spaces per 1,000 SF Leased)
Frontage
253’ on 2nd Avenue Southeast
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 66.37012.0001 | Improvements Assessment | $394,000 |
| Land Assessment | $97,600 | Total Assessment | $491,600 |
PROPERTY TAXES
Parcel Number
66.37012.0001
Land Assessment
$97,600
Improvements Assessment
$394,000
Total Assessment
$491,600
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Former C-Store / Subway | Melrose, MN | 406 S 2nd Ave E
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