Family Dollar | Triple net (NNN) Lease Investment Opportunity
$1,525,925
501 Barry Avenue, Hinckley, MN 55037
For Sale
Retail
Free Standing
Pending
Last Updated: 03/02/2021
6.75
Cap Rate
103,000
NOI
Details:
Cap Rate: 6.75%
NOI: $103,000
Building Size: 8,320 sqft
Lot Area: 1.39 acres
Lease Type: Triple Net
Year Built: 2016
Price Per Sqft: $183.40
Property Taxes, Insurance, Common Area, Roof & Structure : Tenant’s Responsibility
Repairs, Maintenance, HVAC & Utilities : Tenant’s Responsibility
Highlights:
- Triple Net (NNN) Long-Term Lease
- Rare 10% Rent Increase in Base Term Year 11
- Zero Landlord Responsibilities
- Average Household Income of $55,036 Within a 5-Mile Radius
- Limited Dollar Store Competition - Closest Dollar Store is Over 10 Minutes Away
- 2-Miles West of the Hinckley Grand Casino (54,800 SF of Gaming Space) That Provides Over 2,200 Jobs - Offering Guests Gaming, Accommodations, Dining, Conference Facilities, Live Entertainment, Spa and a Golf Club
- The Property is Situated 0.3 Miles From U.S. Interstate 35 With 23,585 VPD - I-35 Runs North Into Duluth (1.5 Hours) and South Into Minneapolis (1.5 Hours) - It’s Location on I-35, as Well as the Distance to Both Cities, Brings Several Visitors to the Area
- Minutes From the Hinckley Elementary School and Hinckley-Finlayson High School - Together, They Have a Combined Total Enrollment of Over 870 Students
- Largest Employers in Pine County and Near Hinckley Are: Grand Casino, Grand Buffet, Grand Grille (Over 2,700 Jobs); Hinckley School System (250 Jobs); and MINPACK (130 Jobs)
- Major National Tenants in Surrounding Area Include: Mobil, Marathon Gas, QuikTrip, Subway, Taco Bell, McDonald's, Dairy Queen, White Castle, Hardees and Several Others
Description:
We Are Pleased to Offer For Sale the 8,320 SF Family Dollar Located at 501 Barry Avenue in Hinckley, MN. This Opportunity Includes 11+ Years Remaining on a Triple Net (NNN) Lease With Attractive Rent Increases, Providing For a Secure Investment.
In Cooperation with: Todd Lewis Sands, Investment Group Lic. # 703013
512.957.0597 | DIRECT todd@SIGnnn.com
ELAN SIEDER, Sands Investment Group Lic. # 678407
512.649.5185 | DIRECT elan@SIGnnn.com
Documents:
Title | ||
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Offering Memorandum |
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