307 N State St - Convenience Store FOR SALE


Fairmont, MN 56031
$1,545,776 USD
408-510-9057
307 N State St, Fairmont, MN for Sale
$1,545,776 USD
Convenience Store - FOR SALE
1/3
null | 7.5% Cap Rate

307 N State St
Fairmont, MN 56031


HIGHLIGHTS

  • ±19 Years Remaining on Absolute-NNN Lease
  • 2% Annual Rent Increases During Initial Lease Term and Options
  • Potential for 100% Bonus Depreciation (Fee-Simple Asset)
  • Large Scale Established & Successful Operator (39-Unit Guaranty)
  • Clean Environmental Reports And Recent Survey On File
  • Established Marathon Gas Station & Quick Mart

OVERVIEW

Marcus & Millichap is pleased to offer a Marathon-branded gas station and Quick Mart located along North State Street, one of Fairmont’s highest-traffic commercial corridors. The property is secured by a long-term absolute-NNN lease with ±19 years remaining, providing investors with stable, passive income backed by KeyStone Retail and Affiliates, a seasoned 39-unit operator with strong performance across multiple markets. The site benefits from excellent visibility, ±11,687 VPD, and immediate access to Interstate 90, positioning it to capture both local residents and regional commuter traffic. Located within Fairmont’s core retail node, the property is surrounded by national brands including Hy-Vee, Walgreens, Dollar Tree, Dunham’s, Burger King, O’Reilly Auto Parts, Subway, and Tractor Supply Co. The tenant benefits from a proven operating location within a stable regional economy supported by healthcare, agriculture, manufacturing, and Fairmont’s chain of interconnected lakes. With 2% annual rent increases, four 5-year renewal options, and potential eligibility for 100% bonus depreciation, this asset offers a compelling long-term net-lease investment.

FOR SALE DETAILS

PRICE

$1,545,776 USD

PRICE/SF

$362 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Marathon Gas Station | Absolute-NNN Lease

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1963

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.87 AC

LAND SF

37,782 SF

ZONING

-

APN/PARCEL ID

230470010,230470020,230470030

ASK ABOUT THIS PROPERTY

Tyler BindiMarcus & MillichapMore Info
408-510-9057

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Tyler BindiMarcus & MillichapMore Info
408-510-9057

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