1738 S Broadway - Service Station FOR SALE


Minot, ND 58701- Downtown Minot
$1,577,000 USD
949-506-2009
1738 S Broadway, Minot, ND for Sale
$1,577,000 USD
Service Station - FOR SALE
1/10
null | 6.85% Cap Rate

1738 S Broadway
Minot, ND 58701
Downtown Minot


HIGHLIGHTS

  • New 15 Year Lease | Options To Extend | Scheduled Rental Increases | Strong Tenant
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Dakota Square Mall (4M+ Visits) | Automotive Corridor | Frontage Visibility | Minot State University
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased Take 5 Oil Change investment property located in Minot, North Dakota. The tenant will sign a brand-new, 15-year lease with four (5-year) options to extend, at the close of escrow, demonstrating their commitment to the site. The lease features 6% rental increases at the end of year five and then annual 1.5% rental increases for the remainder of the initial term and throughout each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor.

FOR SALE DETAILS

PRICE

$1,577,000 USD

PRICE/SF

$949 USD /SF

CAP RATE

6.85%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Take 5 Oil Change | 15-Yr SLB | Absolute NNN

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Service Station

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1959

SPRINKLERS

-

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,731 SF

ZONING

C2

APN/PARCEL ID

MI263580200043

ASK ABOUT THIS PROPERTY

Calvin ShortSRS National Net LeaseMore Info
949-506-2009

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Calvin ShortSRS National Net LeaseMore Info
949-506-2009

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.