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Walgreens 750 Mankato Ave 14,490 SF Retail Building Winona, MN 55987 $2,589,000 ($178.67/SF) 8.75% Cap Rate
Investment Highlights
- 10+ Years Remaining | One-Time 14%+ Rental Increase | Corporate Signed Lease
- Dense Retail Trade Area | Strong National Tenant Presence
- Hard Corner Intersection | Drive-Thru Equipped Pharmacy | Excellent Visibility & Access
- Proximity To Winona Health
- Direct Residential Consumer Base | Strong Demographics in 5-Mile Trade Area
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
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, drive-thru–equipped Walgreens investment property. The tenant, Walgreen Co., has 10+ years of firm lease term remaining, with ten (10) additional five-year renewal options, providing long-term income durability. The lease features a one-time 14%+ rental increase at the beginning of the first option period, offering a meaningful step-up in NOI and a hedge against inflation. The lease is corporate-signed by Walgreen Co., one of the largest pharmacy operators in the U.S. with over 8,500 locations nationwide, and is structured as absolute NNN with zero landlord responsibilities, making it an ideal management-free investment for a passive investor.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,490 SF
Building Class
C
Year Built
2004
Price
$2,589,000
Price Per SF
$178.67
Cap Rate
8.75%
NOI
$226,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
1.55 AC
Zoning
CMU - Commercial Mixed Use
Parking
58 Spaces (4 Spaces per 1,000 SF Leased)
Frontage
155’ on Mankato Ave
Fairly walkable
50/100
Exceptionally drivable
100/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 32.320.4310 | Improvements Assessment | $1,476,200 |
| Land Assessment | $706,200 | Total Assessment | $2,182,400 |
Property Taxes
Parcel Number
32.320.4310
Land Assessment
$706,200
Improvements Assessment
$1,476,200
Total Assessment
$2,182,400
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Walgreens | 750 Mankato Ave
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