2320 Broadway Ave - Retail FOR SALE


Yankton, SD 57078
$1,857,000 USD
605-782-1663
2320 Broadway Ave, Yankton, SD for Sale
$1,857,000 USD
Retail - FOR SALE
1/8
null | 7% Cap Rate

2320 Broadway Ave
Yankton, SD 57078


HIGHLIGHTS

  • Furniture Mart USA | Long-Term Occupancy | Renewal Options
  • NNN Lease Structure | Fee Simple Ownership | Passive Investment Opportunity
  • Located Along Yankton’s Primary Retail Corridor | Strong Retail Synergy
  • Signalized Intersection | Highway Frontage | Excellent Visibility & Access
  • Strong Demographics (5-Mile) | Regional Retail Hub

OVERVIEW

SRS Real Estate Partners, LLC in collaboration with Bender Commercial are pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased Furniture Mart USA investment property located in Yankton, South Dakota. The tenant, Furniture Mart USA, Inc., operates one of the largest furniture retail networks in the Midwest and currently occupies the property under a lease term extending through December 31, 2030. The lease includes four (4) additional 5-year renewal options with 3% rental increases at the beginning of each option period, providing continued income growth and long-term occupancy potential. The NNN lease structure requires the tenant to pay real estate taxes, utilities, maintenance, snow removal, landscaping, and other operating expenses, creating a low-management investment opportunity for passive and out-of-state investors. This property is being offered exclusively as part of a two-property portfolio with the Spirit Lake, IA Furniture Mart property and must be purchased together.

FOR SALE DETAILS

PRICE

$1,857,000 USD

PRICE/SF

$47 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Furniture Mart | Low Rent PSF

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

78

LAND DETAILS

LAND ACRES

2 AC

LAND SF

87,120 SF

ZONING

Y2

APN/PARCEL ID

78.385.001.200

ASK ABOUT THIS PROPERTY

Reggie KuipersBender Commercial Real Estate ServicesMore Info
605-782-1663

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Reggie KuipersBender Commercial Real Estate ServicesMore Info
605-782-1663

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