3181 Evergreen Ln Alexandria, MN 56308

This exceptional investment opportunity presents a freestanding Pilot Travel Center in Alexandria, Minnesota, boasting a substantial 36,000 square foot building situated on a generous 12.81-acre lot. Built in 2010, the property features 50 parking spaces and benefits from an absolute NNN lease structure, eliminating all landlord responsibilities. The current lease, with a remaining term of eight years (expiring March 31, 2032), includes 10% rent bumps every five years and five 5-year lease options. The property generates a strong net operating income (NOI) of $362,700, resulting in an attractive 6.48% capitalization rate. The asking price is $5,600,000, translating to $155.56 per square foot. This strategically located center enjoys excellent visibility from I-94, with over 15,000 vehicles passing daily. The surrounding area demonstrates strong demographics, including an average household income exceeding $100,000 within a one-mile radius and a population of over 8,800 within a three-mile radius, projected to grow by 3.89% through 2028. The property's proximity to Alexandria Technical & Community College further enhances its appeal, with over 13,700 daytime employees within a three-mile radius. Tenants include Subway and Dan's Diesel Inc. This is a rare opportunity to acquire a well-performing, low-maintenance asset in a thriving market.