700 2nd St S - Freestanding FOR SALE


Waite Park, MN 56387
$1,800,000 USD
320-267-4576
700 2nd St S, Waite Park, MN for Sale
$1,800,000 USD
Freestanding - FOR SALE
1/12
null | 6.75% Cap Rate

700 2nd St S
Waite Park, MN 56387


HIGHLIGHTS

  • Prime Location on 2nd Street - 33,000 VPD Traffic Count
  • Below Market Lease
  • Located in Saint Cloud MSA Serving Over 200,000
  • Replacement Oversized 1.8 Acre Parcel w/ Ample Parking
  • Excellent 1031 Exchange

OVERVIEW

CBC Orion Real Estate Advisors are pleased to offer For Sale this Dollar Tree property located in Waite Park, MN. The subject property is a single-tenant, high quality retail building – 100% NNN leased by Dollar Tree. Tenant is under a 20-year triple net lease and recently rolled into their 2nd renewal option, showing strong commitment to the location. Lease contains a 6% rent increase at each renewal interval. This Dollar Tree site is conveniently situated in a prime location on 2nd Street (33,000 VPD traffic count) a major retail and business hub. Strategically located in close proximity to all the major thoroughfares (Highway 23, Hwy 15, 2nd Street & Division Street), major retailers, restaurants and more. The city of Waite Park is included in the Saint Cloud MSA serving over 200,000. Subject property consists of one – single-story high-quality stucco and brick building consisting of approx. 9,500 SF bldg. on an oversized 1.8 acre parcel. The tenant, Dollar Tree is the 2nd largest dollar store retailer, with over 15,000 locations in North America (approx. $20 billion in annual revenue). Dollar Tree has occupied the building since 2015. Additionally, in 2015 the property had underwent substantial tenant improvements/property enhancements. Building amenities include high quality stucco and brick exterior finishes, oversized parking lot with ample parking in front and back, fully sprinkled, and much more. Excellent opportunity for qualified investors to acquire this high quality 100% NNN leased investment property in a solid retail market. Excellent 1031 exchange opportunity. *** Offered For Sale at $1,800,000 ***

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$186 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

JUST LISTED | NNN DOLLAR TREE - NEW RENEWAL

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

100

LAND DETAILS

LAND ACRES

1.82 AC

LAND SF

79,286 SF

ZONING

-

APN/PARCEL ID

98.60707.0031

ASK ABOUT THIS PROPERTY

Scott M. Schmitt, CCIMCBC ORION REAL ESTATE ADVISORS, INC.More Info
320-267-4576

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Scott M. Schmitt, CCIMCBC ORION REAL ESTATE ADVISORS, INC.More Info
320-267-4576

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