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ALDI | Rare Fee Simple (Building Ownership) 9010 Jamaica Ave S 20,027 SF Retail Building Cottage Grove, MN 55016 $3,838,000 ($191.64/SF) 6% Cap Rate
Investment Highlights
- Corporately guaranteed by ALDI, Inc.
- Tenant recently exercised a 5-year option with 4, (5) year renewal options remaining
- Average household income of $136,738 within a five-mile radius
- Tenant has been operating at this location since 2016, showcasing strong commitment
- Positioned just off of U.S. Highway 10/61 ( 42,022 vehicles per day )
- Since 2010-2020, the population grew 21.22% within a five-mile radius and is expected to grow an additional 6.97% by 2030
Executive Summary
Investors are offered the opportunity to acquire a single-tenant net-lease ALDI property located in Cottage Grove, MN (Minneapolis-St. Paul MSA). ALDI is the largest traditional “supermarket-only” chain in the U.S. with over 2,600 stores and is targeting over 800 new store openings through 2028. With ALDI owning a majority of their real estate or ground leasing, this is a rare fee simple (both building and land) ownership structure. ALDI has successfully operated at this location for 10 years and recently exercised their first of five, (five) year option periods. Investors will benefit greatly from the property’s excellent real estate fundamentals. A modest Base Rental rate of $11.50 per square foot will bode well for healthy store level economics. With respect to location, the property is positioned at a hard corner lighted intersection with three points of ingress/egress. In addition to its positioning, ALDI sits on an expansive 3.40-acre lot with ample front parking (100 surface spaces) and a large rear lot allowing for ease of delivery truck mobility. The immediate area surrounding the ALDI is growing as the population increased 21.22 percent from 2010 to 2020 and is projected to grow an additional 6.97 percent by 2030.
Data Room Click Here to Access
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Supermarket
Building Size
20,027 SF
Building Class
B
Year Built/Renovated
2001/2016
Price
$3,838,000
Price Per SF
$191.64
Cap Rate
6%
NOI
$230,311
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.14
Lot Size
3.40 AC
Parking
90 Spaces (4.49 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signage
- Signalized Intersection
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
- -
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Lorem Ipsum
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Jan 0000
ALDI SÜD began in 1961 as part of the wider ALDI discount model and later developed into a separate southern division of the brand. The company focuses on grocery retailing, with fresh food, own-label products, seasonal promotions and online services in selected markets. ALDI SÜD also extends into property development through its Immobilien arm, which develops store concepts, mixed-use projects and site-specific real estate solutions with cities and project partners. From its roots in Germany, the business expanded beyond its home market and now operates across multiple continents with a wide retail network.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | - | Lorem Ipsum | Jan 0000 |
Fairly walkable
50/100
Exceptionally drivable
90/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 21-027-21-12-0025 | Improvements Assessment | $0 |
| Land Assessment | $741,200 | Total Assessment | $741,200 |
Property Taxes
Parcel Number
21-027-21-12-0025
Land Assessment
$741,200
Improvements Assessment
$0
Total Assessment
$741,200
Contacts
-
Adrian Mendoza -
Sean Sharko -
Austin Weisenbeck -
Sharko | Weisenbeck | Mendoza Group
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