8576 Rock Ridge Dr
Mountain Iron, MN 55768
Mountain Iron Retail Center · Retail Property For Sale

Marcus & Millichap is pleased to exclusively present for your acquisition review Mountain Iron Retail Center located in Mountain Iron, Minnesota. Mountain Iron Retail Center is a 11,500 square foot three-tenant center positioned on 1.92 acres. The Center has excellent visibility just off of Highway 169 as a Wal-Mart Supercenter outparcel. The tenants in the Center benefit from the consistent traffic generated by the Wal-Mart and capitalize off the lack of competition in the market. The building sits off Highway 169 just down the street from the intersection of Highway 169 and Highway 53. The Thunderbird Mall is less than a mile away along with Target, Menards, Super One Foods and several other national tenants. Currently Mountain Iron Retail Center is fully occupied and stabilized. The Center has an excellent tenant mix with national credit from Maurices and Famous Footwear. Each of the three leases are triple net, requiring very minimal responsibility from the landlord. There is zero near-term lease rollover providing further stabilization to the deal, with both Maurices and Famous Footwear having more than 8 years remaining on their leases. Mountain Iron Retail Center provides an investor with an ideal opportunity to acquire a fully stabilized center with minimal responsibility yet still having upside in the deal in capturing the upcoming rent bumps for each tenant. The deal has excellent real estate fundamentals as well, situated as a Wal-Mart outparcel.