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Walgreens | Sauk Rapids, MN 115 2nd Ave N 14,490 SF Retail Building Sauk Rapids, MN 56379 $9,477,563 CAD ($654.08 CAD/SF) 9.50% Cap Rate
EXECUTIVE SUMMARY
Absolute Net Lease Structure –
Corporate guaranteed lease with zero landlord responsibilities, 11 years of term remaining, and strong reported sales.
Prime Signalized Corner Location –
Unique 4-corner location with two signalized intersections and three points of ingress/egress. The site sits across from the 57-unit Mississippi Lofts apartment complex and captures both Benton Drive and 2nd St / Avenue traffic - over 43,000 VPD combined.
Strategically Located 1.3 Miles from Major Regional Hospital –
St. Cloud Hospital is the largest healthcare facility in the region. Featuring state-of-the-art healthcare, 489 beds, and 6,500+ staff, including 500+ physicians, the hospital is a major traffic driver to the area, providing consistent pharmacy demand.
Modern, Freestanding Walgreens –
Built in 2011, this was a relocation store from a smaller footprint site nearby. Walgreens moved to this location to accommodate a drive-thru, larger parking lot, and improved traffic flow.
Corporate guaranteed lease with zero landlord responsibilities, 11 years of term remaining, and strong reported sales.
Prime Signalized Corner Location –
Unique 4-corner location with two signalized intersections and three points of ingress/egress. The site sits across from the 57-unit Mississippi Lofts apartment complex and captures both Benton Drive and 2nd St / Avenue traffic - over 43,000 VPD combined.
Strategically Located 1.3 Miles from Major Regional Hospital –
St. Cloud Hospital is the largest healthcare facility in the region. Featuring state-of-the-art healthcare, 489 beds, and 6,500+ staff, including 500+ physicians, the hospital is a major traffic driver to the area, providing consistent pharmacy demand.
Modern, Freestanding Walgreens –
Built in 2011, this was a relocation store from a smaller footprint site nearby. Walgreens moved to this location to accommodate a drive-thru, larger parking lot, and improved traffic flow.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,490 SF
Building Class
B
Year Built
2011
Price
$9,477,563 CAD
Price Per SF
$654.08 CAD
Cap Rate
9.50%
NOI
$900,368 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
1.59 AC
Zoning
C - Commercial
Parking
35 Spaces (2.42 Spaces per 1,000 SF Leased)
Frontage
297’ on 2nd Ave N
AMENITIES
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 19.04825.00 | Improvements Assessment | $2,297,522 CAD |
| Land Assessment | $824,658 CAD | Total Assessment | $3,122,181 CAD |
PROPERTY TAXES
Parcel Number
19.04825.00
Land Assessment
$824,658 CAD
Improvements Assessment
$2,297,522 CAD
Total Assessment
$3,122,181 CAD
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Walgreens | Sauk Rapids, MN | 115 2nd Ave N
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