For Sale
$15,250,000

7510 HwyGreenfield, MN 55373

$15.25M, 3-unit NNN portfolio, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
119
This exceptional investment opportunity presents a portfolio of three absolute triple-net (NNN) leased convenience stores and gas stations, totaling 22,700 square feet. Located in Minnesota, the portfolio boasts a 7.07% cap rate and a substantial net operating income (NOI) of $1,078,290. Each property is leased to a credit-rated tenant with a corporate guarantee, ensuring financial stability. The leases are structured as absolute NNN, meaning the tenant is responsible for all operating expenses, including property taxes, insurance, and maintenance. Currently operating under the Holiday Stationstores brand (part of the Circle K family), each location benefits from a 20-year lease initially commencing October 1, 2007, with 2 five-year renewal options at a 13% rent increase per option. The current remaining lease term is approximately 2.9 years. The portfolio offers significant upside potential through performance-based rent provisions. This is a 1031 exchange eligible property, presenting a compelling opportunity for investors seeking a secure, high-performing, and low-maintenance investment. The portfolio's strong tenant, robust lease terms, and attractive financial metrics make it an ideal addition to any diversified investment portfolio. The properties are situated in established markets within Minnesota, benefiting from a stable and growing economy. This portfolio offers a rare combination of security, profitability, and long-term growth potential.

Highlights

  • Triple-net (NNN) leased portfolio of three convenience stores and gas stations totaling 22,700 square feet in Minnesota.
  • Investment-grade credit tenant with corporate guarantee.
  • Performance-based rent with upside potential.
  • 13% rent increase per five-year renewal option; approximately 2.9 years remaining lease term.
  • 1031 exchange eligible.

Property Details for 7510 Hwy

Property type
Retail properties, Grocery and convenience stores
Square Feet
22,700 SF

Location Insight

City
Greenfield
County
Hennepin
State
Minnesota
Latitude
45.080622426013
Longitude
-93.716951659608
7510 Hwy, Greenfield, Minnesota

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7510 Hwy
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