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940 Evergreen Sq SW 1,200 SF Retail Building Pine City, MN 55063 $1,600,000 ($1,333.33/SF) 5.68% Cap Rate
Investment Highlights
- Conveniently located in a Walmart parking lot
Executive Summary
• New 15 Year Absolute NNN Lease with Four 5-Year Options to Renew
• 10% Rent Increases Every 5 Years Throughout the Initial Term and in Each of the Option Periods
• Lease Guaranteed by Montfort Companies Parent Entity - Montfort is the Largest 7-Eleven
Franchisee and Growing C-Store Operator Under the BP Brand, Which Has a Strong Presence in Minnesota
• Convenience Stores Have Been Designated an "Essential Business" by the Department of Homeland Security
• C-Stores Generate "Daily Needs" Business and Have a Stable Consumer Base
• Fuel Profit Margins Have Increased Year Over Year
• Newer Construction Asset and Larger Format, 1,200 Square Foot Store with 6 Multiple Pump Dispensers (12 Fueling Pumps)
• Strategically Positioned at the Entrance to Walmart Supercenter with a Direct, Signalized Entrance
• The Only Walmart Within 30 Minutes
• Located Off Interstate 35 with Over 30,000 Vehicles Per Day
•Stretches from Canada to Mexico and is One of the Busiest Highways in the Nation
• Less Than Half a Mile from Pine Technical & Community College with More Than 700 Students Enrolled
• Situated 1 Mile from Pine City High School & Elementary Schools with over 1,600 Students & Faculty
• 10% Rent Increases Every 5 Years Throughout the Initial Term and in Each of the Option Periods
• Lease Guaranteed by Montfort Companies Parent Entity - Montfort is the Largest 7-Eleven
Franchisee and Growing C-Store Operator Under the BP Brand, Which Has a Strong Presence in Minnesota
• Convenience Stores Have Been Designated an "Essential Business" by the Department of Homeland Security
• C-Stores Generate "Daily Needs" Business and Have a Stable Consumer Base
• Fuel Profit Margins Have Increased Year Over Year
• Newer Construction Asset and Larger Format, 1,200 Square Foot Store with 6 Multiple Pump Dispensers (12 Fueling Pumps)
• Strategically Positioned at the Entrance to Walmart Supercenter with a Direct, Signalized Entrance
• The Only Walmart Within 30 Minutes
• Located Off Interstate 35 with Over 30,000 Vehicles Per Day
•Stretches from Canada to Mexico and is One of the Busiest Highways in the Nation
• Less Than Half a Mile from Pine Technical & Community College with More Than 700 Students Enrolled
• Situated 1 Mile from Pine City High School & Elementary Schools with over 1,600 Students & Faculty
Property Facts
Sale Type
Investment NNN
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
1,200 SF
Building Class
B
Year Built
2015
Price
$1,600,000
Price Per SF
$1,333.33
Cap Rate
5.68%
NOI
$90,904
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
0.73 AC
Opportunity Zone
Yes
Zoning
C - Commercial
Parking
21 Spaces (17.5 Spaces per 1,000 SF Leased)
Frontage
Amenities
- 24 Hour Access
- Signage
Nearby Major Retailers
Property Taxes
| Parcel Number | 042.5888.000 | Improvements Assessment | $215,900 |
| Land Assessment | $49,900 | Total Assessment | $265,800 |
Property Taxes
Parcel Number
042.5888.000
Land Assessment
$49,900
Improvements Assessment
$215,900
Total Assessment
$265,800
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940 Evergreen Sq SW
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