701 Dorchester DrHoyt Lakes, MN 55750

Property Details for 701 Dorchester Dr

Year built

2024

Lot size

0.70 AC

Property size (Sq ft)

10,500 SF

Property type

Retail properties

Property subtype

Drug stores

Description

This exceptional investment opportunity presents a fee-simple, 10,500 square foot retail property in Hoyt Lakes, Minnesota. The property, built in 2024, is currently 100% occupied by a triple-net (NN+) lease with a credit-rated corporate guarantee from Dollar General, Dollar Tree, and Family Dollar. The lease commenced February 4, 2024, and has a remaining term of nine years, with six, five-year renewal options at $5,250 annual rent increases. The property boasts a strong 8.25% cap rate and a net operating income (NOI) of $136,500. Situated on a 0.7-acre lot at 701 Dorchester Dr, Hoyt Lakes, MN 55750, this location offers a unique advantage as the only alternative to the local grocery store. The property includes a 20-year transferable roof warranty. The average household income in the area exceeds $79,881. This is a strategically located investment with a strong tenant and significant upside potential, approximately 64 miles north of Duluth. The combined Dollar Tree/Family Dollar stores have demonstrated a 20% higher sales volume compared to single-branded locations. Dollar Tree, with its investment-grade credit rating, has shown resilience and growth, even during challenging economic times. This is a rare opportunity to acquire a high-performing, low-risk retail investment with a long-term lease and substantial future growth potential.

Location Insight

City

Hoyt Lakes

County

St. Louis

State

Minnesota

Latitude

47.5194

Longitude

-92.1393

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].