103 Mn-86Lakefield, MN 56150

  • Retail properties
  • 10,500 SF
For Sale
$1,568,438 View listing

Property Details for 103 Mn-86

Year built
2024
Lot size
1.24 AC
Property size (Sq ft)
10,500 SF
Property type
Retail properties
Property subtype
Drug stores

Description

Exceptional investment opportunity featuring a brand-new, 10,500 square foot Family Dollar store built in 2024 on a 1.24-acre lot in Lakefield, Minnesota. This single-tenant property boasts a strong 9.8-year remaining lease term (expiring July 31, 2034) with a credit-rated, corporate-guaranteed tenant. The lease is a Net-Net-Net (NNN) structure, minimizing landlord responsibilities. The property enjoys a favorable location approximately 85 miles east of Sioux Falls, conveniently situated off I-90, a major thoroughfare in southern Minnesota. The average household income within a 5-mile radius is $66,615, aligning with Family Dollar's target demographic. The lease includes five, 5-year options with rent increases of $5,250 annually ($0.50 per square foot). The property also benefits from a 20-year transferable roof warranty. The asking price is $1,568,438, representing an 8.00% cap rate and a net operating income (NOI) of $125,475. This investment offers a compelling combination of strong tenant credit, long-term lease stability, and attractive financial metrics. The property's location and the tenant's financial strength make this a highly desirable addition to any portfolio. The property is classified as a convenience store, grocery store, and pharmacy/drug store.

Location Insight

City
Lakefield
County
Jackson
State
Minnesota
Latitude
43.6749
Longitude
-95.1751

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