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951-975 E Frontage Rd 82,911 SF 99% Leased Retail Building Litchfield, MN 55355 For Sale
INVESTMENT HIGHLIGHTS
- ASSET’S GROCERY ANCHOR CONTROLS THE MARKET
- EXPOSURE TO VARIETY OF CONSUMERS
- VALUE ADD POTENTIAL
EXECUTIVE SUMMARY
Cushman & Wakefield Retail Investment Advisors present 12 West Marketplace (the Property), an 82,911 square foot grocery anchored center in Litchfield, Minnesota, located within a Qualified Opportunity Zone. The property is 99% occupied with incredible mark-to-market opportunity, as average base rents across the center are only $4.60psf. Sitting on 8.28 acres with phenomenal visibility to Highway 12, the asset is positioned along a primary thoroughfare between the Twin Cities (Minneapolis & Saint Paul), and the vacation communities of central & western Minnesota.
The Property’s grocery anchor, Family Fare, is a SpartanNash brand (NASDAQ: SPTN), and one of 147 corporate SpartanNash locations. Besides Walmart, there is not another full-service grocer within 15 miles of the asset. It is a weekly destination not only for those who live in the immediate area, but also those vacationing at lakeside estates near Litchfield, and further west.
The Property’s grocery anchor, Family Fare, is a SpartanNash brand (NASDAQ: SPTN), and one of 147 corporate SpartanNash locations. Besides Walmart, there is not another full-service grocer within 15 miles of the asset. It is a weekly destination not only for those who live in the immediate area, but also those vacationing at lakeside estates near Litchfield, and further west.
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Retail
Building Size
82,911 SF
Building Class
C
Year Built
1989
Percent Leased
99%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.25
Lot Size
7.62 AC
Opportunity Zone
Yes
Zoning
B-4
Parking
460 Spaces (5.55 Spaces per 1,000 SF Leased)
Frontage
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
Salon space available.
| Space | Size | Space Use | Position | Available |
| 957 | 1,050 SF | Retail | In-Line | Now |
957
| Size |
| 1,050 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
957
| Size | 1,050 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Salon space available.
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 27-2455000 | Improvements Assessment | $1,810,500 |
| Land Assessment | $487,300 | Total Assessment | $2,297,800 |
PROPERTY TAXES
Parcel Number
27-2455000
Land Assessment
$487,300
Improvements Assessment
$1,810,500
Total Assessment
$2,297,800
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951-975 E Frontage Rd
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