Retail•Strip Center•For Sale

Fairmont Corner Retail Strip Center

1023 Blue Earth Ave E, Fairmont, Minnesota 56031

Sale Price $839,000
Sale Type Net Lease Investment
Zoning B-2 Central Business, with Heigh Restriction Overlay
Bldg Type Multi-Tenant
Year Built 1991
Year Renovated 2019
Stories 1
Vacancy 100%
Gross Bldg 3,264 SqFt
Land Area .38 Acres
Improvements Corner location at the main thoroughfare of
NNN Investment Opportunity. Well suited for a 1031 Exchange Investor, or fresh equity Investor. Opportunity to acquire a fully leased and renovated corner two (2) tenant retail strip center in the heart of Fairmont, MInnesota - a community of approxinmately 10,600 people and situated along Interstate 90 in southern Minnesota. The renovated store will consists of approximately 3,219 square feet of retail area and is leased to two (2) credit worthy tenants - AT&T and Shopko Optical. AT&T's lease is for an initial term of three (3) years with options to extend for a total of nine (9) years. Shopko's lease is for an initial term of five (5) years with options to extend for a total of twenty-five (25) years. The Property is located in the center of Fairmont, Minnesota - a community representing approximately 11,000 people and situated along Interstate 90 in southern Minnesota and is situated between Albert Lee and Worthington. Fairmont is the County Seat for Martin Count - with a total county population of roughly 21,000. Fairmont is approximately 135 miles south west of the Twin Cities Metro Area and approximately 125 miles east of Sioux Falls, South Dakota.
  • Fully Renovated two (2) tenant strip center
  • Ideally situated along the main retail thoroughfare in Fairmont, MN
  • Strong farming and agricultural based community with stabile & growing population
  • National and regional credit tenants in AT&T and Shopko Optical
  • Long-Term leases when factoring in multiple extension options
  • Short-term predictable income.
8/14/2019 3:27:04 PM 11/27/2019 4:59:30 PM

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