Redevelopment Opportunity

Highlights:

• EXCELLENT VISIBILITY & ACCESS - The property features direct access and visibility and convenient proximity to 9,875 vehicles from U.S. Route 59 and 9,523 vehicles from Highway 23. Highway 23 stretches from southwestern to northeastern Minnesota and is the second longest state route after Highway 1.
• NEIGHBORING NATIONAL TENANTS - This site is located across from Runnings, Harbor Freight, AT&T and Cold Stone. The property is surrounded with local and major national tenants including McDonald's, Caribou Coffee, Arby's, Subway, Dairy Queen, Domino's Pizza, Taco Bell, Dollar Tree, Starbucks, Walmart, Sears, Menards, and many others.
• ATTRACTIVE LOCATION - Marshall is the home of Southwest Minnesota State University (SMSU) and the headquarters of the Schwan Food Company. The site is 1.4 miles away from SMSU with a 2,800+ student population. SMSU continues to be the fastest-growing in the Minnesota State system. Schwan employs about 1,500 people in Marshall.
• LARGE SITE AREA - Situated on over 4 acres, the expansive parcel provides ample parking, flexibility for redevelopment, or room for future expansion.
• EXISTING IMPROVEMENTS - The property previously featured a full-service restaurant, bar, and indoor entertainment arcade with laser tag, bounce houses, and VR gaming setups, offering significant infrastructure value for future food & beverage or family entertainment concepts.
• REDEVELOPMENT OR REUSE POTENTIAL - The site can accommodate a wide variety of uses including quick-service or sit-down dining, event space, arcade, bowling, gym, retail, or potential pad development.
• BOOMING REGIONAL GROWTH - Marshall, MN saw a record $36.9M in building permits in 2024, driven by $32M in commercial projects including new retail, multifamily, and industrial developments—solidifying its position as a growing regional economic hub.
• ADJACENT TO NEW MULTIFAMILY DEVELOPMENT - The subject property directly borders the brand-new Stone Meadow Apartments, a ±108-unit market-rate community currently under development, which will bring increased daily traffic, visibility, and long-term residential density to the immediate area.

Description:

Prime Net Lease is pleased to present 900 Clarice Avenue in Marshall, MN, a versatile ±4,926 SF commercial property built in 2012 and renovated in 2019. Zoned B-3 and situated on over 4 acres, the site offers exceptional flexibility for restaurant, entertainment, retail, or redevelopment use, supported by ample parking and extensive existing infrastructure.

The property benefits from excellent visibility and access to U.S. Route 59 (9,875 VPD) and Highway 23 (9,523 VPD)—a major connector spanning across Minnesota and serving as a critical regional thoroughfare. It sits directly across from Runnings, Harbor Freight, AT&T, and Cold Stone, and is surrounded by prominent national tenants such as Walmart, Menards, McDonald’s, Starbucks, Caribou Coffee, Arby’s, Subway, and Dollar Tree, providing strong co-tenancy and consistent traffic.

Marshall’s strong economic base further enhances the property’s appeal. The city is home to Southwest Minnesota State University (2,800+ students) and the Schwan Food Company headquarters (1,500 employees), both major drivers of local demand. The property’s existing improvements—including a restaurant, bar, arcade, 18-hole mini golf course, sand volleyball courts, and go-kart track—offer valuable infrastructure for future operators or redevelopment concepts.

Marshall continues to experience significant regional growth, with $36.9 million in building permits issued in 2024, driven by $32 million in commercial projects. Additionally, the property directly borders the new 108-unit Stone Meadow Apartments development, bringing increased residential density and daily traffic to the area.

This offering represents a unique opportunity for investors, developers, or owner-users to acquire a high-visibility, large-parcel asset in a rapidly expanding regional market.

Marshall, MN – A Regional Hub in Southwestern Minnesota

Marshall, Minnesota, serves as a key economic and cultural center in the southwestern part of the state. Known for its strong agricultural roots, growing industrial base, and community-focused development, Marshall offers a stable environment for both residents and businesses. Its regional influence, combined with affordable living and strategic positioning, makes it a vital hub for commerce, education, and healthcare.

Prime Location & Regional Connectivity
Situated along U.S. Highways 59 and 23, Marshall is well-connected to surrounding towns and larger metro areas, including Sioux Falls, SD and Minneapolis-St. Paul. The city’s access to regional transportation corridors supports local manufacturing, agricultural processing, and retail industries, while providing efficient connectivity for workforce commuting and freight logistics.

Educated Workforce & Institutional Presence
Marshall is home to Southwest Minnesota State University (SMSU), a key driver of the area’s talent pipeline. The presence of SMSU brings a steady flow of educated graduates, cultural programming, and research partnerships to the local economy. The town’s labor force is supported by both academic institutions and a range of vocational and technical training programs throughout the region.

Economic Diversity & Business Climate
Marshall’s economy is bolstered by a mix of agriculture, food processing, manufacturing, and retail. Major employers include Schwan’s Company (headquartered in Marshall), Archer Daniels Midland (ADM), and Avera Health. This diverse economic base has helped sustain job growth and reduce dependency on any single industry. Local government and economic development groups actively support business expansion and entrepreneurship with favorable tax policies and infrastructure investment.

Retail & Residential Growth
With a trade area population that extends well beyond city limits, Marshall serves as a retail and service center for neighboring rural communities. Continued residential development, combined with its growing healthcare and education sectors, has created strong demand for retail, dining, and professional services. New commercial developments and redevelopments are revitalizing key corridors and creating additional opportunities for national and regional tenants.

Conclusion
Marshall stands out as a vibrant, self-sustaining community with a solid economic foundation, educational resources, and strong regional connectivity. Its blend of affordability, workforce quality, and expanding infrastructure positions it as a compelling market for investors, developers, and growing businesses seeking long-term stability and growth.

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