116 Monroe AveOrtonville, MN 56278

Property Details for 116 Monroe Ave

Year built

1958

Property size (Sq ft)

6,700 SF

Property type

Outlet malls

APN

22-0247-000

APU

220247000

Description

This exceptional investment opportunity presents a fee-simple interest in a Family Dollar store located at 116 Monroe Ave, Ortonville, Minnesota, 56278. The property boasts a newly renovated, 11,628 square foot freestanding building situated on a 0.66-acre lot. A brand new, 10-year net lease with a 7.25% cap rate provides a passive income stream with limited landlord responsibilities. The lease commenced August 1st, 2024, and includes five 5-year renewal options, with rent bumps ranging from 4.5% to 5.5% depending on the option exercised. The property's strong location in Ortonville, near major highway systems, ensures high visibility and accessibility. Built in 1958 and fully renovated in 2024, this single-tenant building offers 100% occupancy and a substantial net operating income (NOI) of $107,970. The asking price is $1,489,240, translating to a price per square foot of $128.07. The property's APN is 22-0247-000. This is a prime investment opportunity for those seeking a stable, long-term, high-yield retail asset. The lease expiration date is July 31st, 2034.

• CAP approach

  CAP return

  Valuation

  6%

  $1,621,254

  6.5%

  $1,496,542

  7%

  $1,389,646

• Comparable approach

  Method

  Valuation

  Relative Method

  $861,759

  Geo Method

  $861,759

• Alternative Use

  Use

  Valuation

  Residential

  $1,262,389

  Hospitality

  $1,156,342

  Educational

  $962,063

  Medical

  $995,150

  Retail

  $1,496,542

Location Insight

City

Ortonville

County

Big Stone

State

Minnesota

Latitude

45.3049

Longitude

-96.4461

Property Tax & Assessments

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