Yankton, SD - Future Mart
$1,857,000
2320 Broadway Avenue, Yankton, SD 57078
7
Cap Rate
130,008
NOI
Details:
Description:
Top Midwest Furniture Retailer | Low Rent P/SF | Highway Frontage Must Be Purchased Together with Spirit Lake, IA Property | Contact Broker for Details SRS Real Estate Partners, LLC in collaboration with Bender Commercial are pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased Furniture Mart USA investment property located in Yankton, South Dakota. The tenant, Furniture Mart USA, Inc., operates one of the largest furniture retail networks in the Midwest and currently occupies the property under a lease term extending through December 31, 2030. The lease includes four (4) additional 5-year renewal options with 3% rental increases at the beginning of each option period, providing continued income growth and long-term occupancy potential. The NNN lease structure requires the tenant to pay real estate taxes, utilities, maintenance, snow removal, landscaping, and other operating expenses, creating a low- management investment opportunity for passive and out-of-state investors. This property is being offered exclusively as part of a two-property portfolio with the Spirit Lake, IA Furniture Mart property and must be purchased together.
The property is strategically located along Broadway Avenue / U.S. Highway 81, the primary retail and commercial corridor serving Yankton and the surrounding region. Positioned near the signalized intersection of Broadway Avenue and West 23rd Street, the site benefits from approximately 18,200 vehicles passing daily and excellent visibility from one of the city’s most heavily traveled roadways. The asset is surrounded by a strong concentration of national and regional retailers including Walmart Supercenter, Menards, Hy-Vee, Walgreens, Dollar Tree, Dunham’s Sports, Ace Hardware, Casey’s, Taco Bell, KFC, Goodwill, and Anytime Fitness, among many others. The property is situated within Yankton’s dominant retail corridor, which serves as a regional shopping destination for southeastern South Dakota and northeastern Nebraska. Additionally, the area is supported by strong demographics, including more than 19,400 residents, over 14,600 employees, and an average household income exceeding $91,000 within a 5-mile radius, further supporting the long-term viability of the location.
Location
Gallery
