721 N Highway 86
Lakefield, MN 56150
Dollar General | Lakefield, MN · Retail Property For Sale

The lease structure is triple net (NNN), with zero landlord responsibilities. Tenant is responsible for maintaining, repairing, and replacing all aspects of the property, as well as all required insurances, taxes, and utilities. There are twelve (12.8) years remaining on the lease term, plus five (5), five (5) year options. The lease provides for 10% rental increases at each option period. The lease is corporately guaranteed by Dollar General Corporation, which has an investment grade credit rating of BBB (S&P). This location was recently constructed in 2017. The average household income in the five (5) mile demographic ring is $60,961. The City of Lakefield has a limited amount of retail within the city limits. Dollar General serves as the go-to store for surrounding residents. Since 1976, Lakefield has been home to Kozy Heat, a leading fireplace manufacturing company that has created distribution and representation nationwide with a full product line of both wood and gas fireplaces. Kozy Heat’s plant is located just over 1 mile (3 minutes) away from the Subject Property. The next closest Dollar General is 12 miles (14 minutes) from the subject property. Lakefield supports a retail economy with a projected opportunity gap of $6.2M.