604 Elm St
Saint Joseph, MN 56374
Retail Property For Sale

Marcus & Millichap is pleased to bring to market the exclusive offering for sale a single tenant net leased Dollar General property located within the St. Cloud MSA in St. Joseph, Minnesota. The brand-new construction Dollar General, developed by Ratcliff Development, LLC, will have fifteen years remaining upon commencement. The lease features 10% rental escalations in each of the three 5-year renewal options. The lease is absolute triple net and features zero landlord responsibilities. The newly constructed 9,014 square foot property is strategically located just off Birch St (23,400 VPD), which connects St. Joseph to St. Cloud. Dollar General serves as a primary convenience shopping destination for residents in the area with limited competition. The subject property is located within proximity to multiple residential communities, local businesses and schools including the College of Saint Benedict (3,000+ students). St Joseph is located approximately seven miles west of St. Cloud and is part of the St. Cloud MSA. There are 78,900+ people living within seven miles of the property with an average household income of $73,352. Dollar General offers both name-brand and generic merchandise including off-brand goods and closeouts of name-brand items. Although it has the word dollar in the name, Dollar General is not a dollar store. Many of its offerings are priced at more than one dollar. Dollar General is an investment grade rated company with a Standard & Poor’s rating of BBB. Dollar General is publicly traded on the New York Stock Exchange (Symbol: DG) with a market capitalization in excess of $34 billion. Dollar General operated more than 15,000 stores located in 45 states.