1702 Westridge RdNew Ulm, MN 56073

Property Details for 1702 Westridge Rd

Year built

2007

Lot size

3.82 AC

Property size (Sq ft)

40,720 SF

Zone code

C3

Property type

Commercial real estate

APN

001.827.001.01.010

APU

182700101010

Description

This exceptional 40,740 square foot shopping center in New Ulm, Minnesota, presents a compelling investment opportunity. Boasting a 7.79% cap rate and a strong NOI of $389,740, this multi-tenant property features 11 tenants, including Dollar Tree, Verizon Wireless, Maurices, Great Clips, Cricket Wireless, and Shoe Sensation, across 12 units within two buildings. Built in 2007, the property sits on a 5.69-acre lot zoned C3 and enjoys 97% occupancy. The property benefits from a prime location along Highway 14, in the main retail corridor, shadow-anchored by Walmart and Menards, ensuring high visibility and traffic. New Ulm, the county seat of Brown County, serves as a retail hub for a 30-mile radius, with limited competition and a stable market. Eight of the eleven tenants have renewed their leases within the past 18 months, demonstrating strong tenant loyalty. A single small vacant unit offers immediate value-add potential, with a one-year master lease at $12 per square foot provided by the seller post-sale. The asking price is $5,000,000, translating to $122.73 per square foot. This is a rare opportunity to acquire a well-established, high-performing retail center in a thriving market.

Location Insight

City

New Ulm

County

Brown

State

Minnesota

Latitude

44.3276

Longitude

-94.5017

CBSA code

35580

CBSA name

NEW ULM, MN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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