700 2nd Street S.
$1,800,000
700 2nd Street S. Waite Park, MN 56387
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About this listing
DESCRIPTION
CBC Orion Real Estate Advisors are pleased to offer For Sale this Dollar Tree property located in Waite Park, MN. The subject property is a single-tenant, high quality retail building – 100% NNN leased by Dollar Tree. Tenant is under a 20-year triple net lease and recently rolled into their 2nd renewal option, showing strong commitment to the location. Lease contains a 6% rent increase at each renewal interval.
This Dollar Tree site is conveniently situated in a prime location on 2nd Street (33,000 VPD traffic count) a major retail and business hub. Strategically located in close proximity to all the major thoroughfares (Highway 23, Hwy 15, 2nd Street & Division Street), major retailers, restaurants and more. The city of Waite Park is included in the Saint Cloud MSA serving over 200,000.
Subject property consists of one – single-story high-quality stucco and brick building consisting of approx. 9,500 SF bldg. on an oversized 1.8 acre parcel. The tenant, Dollar Tree is the 2 nd largest dollar store retailer, with over 15,000 locations in North America (approx. $20 billion in annual revenue). Dollar Tree has occupied the building since 2015. Additionally, in 2015 the property had underwent substantial tenant improvements/property enhancements. Building amenities include high quality stucco and brick exterior finishes, oversized parking lot with ample parking in front and back, fully sprinkled, and much more.
Excellent opportunity for qualified investors to acquire this high quality 100% NNN leased investment property in a solid retail market. Excellent 1031 exchange opportunity.
*** Offered For Sale at $1,800,000 ***
*** Contact Mike Schmitt with CBC Orion Real Estate Advisors for further details on this Offering (320) 251-1177 ***
