9010 Jamaica Ave S - Supermarket FOR SALE


Cottage Grove, MN 55016- Outlying Cottage Grove
$3,838,000 USD
708-228-9457
9010 Jamaica Ave S, Cottage Grove, MN for Sale
$3,838,000 USD
Supermarket - FOR SALE
1/9
null | 6% Cap Rate

9010 Jamaica Ave S
Cottage Grove, MN 55016
Outlying Cottage Grove


HIGHLIGHTS

  • Corporately guaranteed by ALDI, Inc.
  • Tenant has been operating at this location since 2016, showcasing strong commitment
  • Tenant recently exercised a 5-year option with 4, (5) year renewal options remaining
  • Positioned just off of U.S. Highway 10/61 ( 42,022 vehicles per day )
  • Average household income of $136,738 within a five-mile radius
  • Since 2010-2020, the population grew 21.22% within a five-mile radius and is expected to grow an additional 6.97% by 2030

OVERVIEW

Investors are offered the opportunity to acquire a single-tenant net-lease ALDI property located in Cottage Grove, MN (Minneapolis-St. Paul MSA). ALDI is the largest traditional “supermarket-only” chain in the U.S. with over 2,600 stores and is targeting over 800 new store openings through 2028. With ALDI owning a majority of their real estate or ground leasing, this is a rare fee simple (both building and land) ownership structure. ALDI has successfully operated at this location for 10 years and recently exercised their first of five, (five) year option periods. Investors will benefit greatly from the property’s excellent real estate fundamentals. A modest Base Rental rate of $11.50 per square foot will bode well for healthy store level economics. With respect to location, the property is positioned at a hard corner lighted intersection with three points of ingress/egress. In addition to its positioning, ALDI sits on an expansive 3.40-acre lot with ample front parking (100 surface spaces) and a large rear lot allowing for ease of delivery truck mobility. The immediate area surrounding the ALDI is growing as the population increased 21.22 percent from 2010 to 2020 and is projected to grow an additional 6.97 percent by 2030.

FOR SALE DETAILS

PRICE

$3,838,000 USD

PRICE/SF

$192 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

ALDI | Rare Fee Simple (Building Ownership)

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2001

SPRINKLERS

-

PARKING SPACES

90

LAND DETAILS

LAND ACRES

3.4 AC

LAND SF

148,104 SF

ZONING

-

APN/PARCEL ID

21-027-21-12-0025

ASK ABOUT THIS PROPERTY

Adrian MendozaSharko | Weisenbeck | Mendoza GroupMore Info
708-228-9457

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Adrian MendozaSharko | Weisenbeck | Mendoza GroupMore Info
708-228-9457

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