3018 Pasque Flower Pl - Supermarket FOR SALE


Brookings, SD 57006
$2,731,000 USD
612-396-7723
3018 Pasque Flower Pl, Brookings, SD for Sale
$2,731,000 USD
Supermarket - FOR SALE
1/6
null | 4.65% Cap Rate

3018 Pasque Flower Pl
Brookings, SD 57006


HIGHLIGHTS

  • New 20-year ground lease with 10% rent bumps every 5 years, delivering a fully passive investment for the landlord
  • South Dakota charges zero state income tax, making this one of the most tax-advantaged ownership environments in the country
  • ALDI is the first store to open its doors at Brookings Marketplace, a brand-new Target-anchored 18.53-acre retail development
  • The company has established itself as the third-largest grocer in the US by store count, with store traffic rising more than 50% from 2019 to 2024
  • The property sits directly at the intersection of US Highway 14 and I-29, one of South Dakota's primary north-south interstate corridors
  • Provides the site with exceptional visibility and access from both regional travelers and the local consumer base, with over 13,000 VPD

OVERVIEW

Jones Lang LaSalle Americas, Inc. ("JLL"), is pleased to exclusively offer for sale the fee-simple interest in ALDI located at 3018 Pasque Flower Pl, Brookings, SD 57006. This 19,631 SF grocery store sits on 2.83 acres and is secured by a long-term absolute NNN ground lease extending through November 2045. This investment opportunity offers investors a truly passive ownership experience through its absolute NNN ground lease structure, where ALDI, America's fastest-growing grocer backed by one of the world's wealthiest families, handles all operational aspects and property expenses. The lease provides built-in rent escalations of 10% every five years, with current annual income of $127,000 and six additional five-year renewal options that could extend the tenancy through 2075. Brookings represents an exceptional market for grocery retail, with ALDI enjoying prime positioning as the first retailer to open at Brookings Marketplace, a brand-new 18.53-acre Target-anchored development at the intersection of US Highway 14 and I-29. The store benefits from exceptional visibility and access along one of South Dakota's primary north-south interstate corridors, with over 13,000 vehicles passing the site daily and direct frontage on both regional and local traffic patterns. Target, along with Kwik Star and Les Schwab Tire Center, solidify this location as the region's premier retail hub. As a city of over 27,000 residents within five miles and home to South Dakota State University with record enrollment exceeding 12,000 students, Brookings maintains economic stability through its diversified base of advanced manufacturing, agricultural technology, healthcare, research and development, and retail sectors. ALDI ranked as the #2 most-requested retailer by Brookings residents in community surveys in both 2019 and 2024, demonstrating a decade of documented consumer demand that existed years before the store even opened. South Dakota's tax environment, with zero state income tax, makes this one of the most tax-advantaged ownership opportunities in the country. Please refer to the OM for more information on this investment opportunity.

FOR SALE DETAILS

PRICE

$2,731,000 USD

PRICE/SF

$139 USD /SF

CAP RATE

4.65%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

ALDI

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Supermarket

ADD'L SUBTYPES

Freestanding, Storefront, Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.83 AC

LAND SF

123,275 SF

ZONING

-

APN/PARCEL ID

406720010000200

ASK ABOUT THIS PROPERTY

612-396-7723

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612-396-7723

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