Retail•Free Standing Building•For Sale

Walgreens - Anoka, MN Net-Leased

1911 S Ferry St, Anoka, Minnesota 55303

Sale Price $3,350,000
Sale Type Net Lease Investment
Zoning 3-A Commercial
Bldg Type Single Tenant
Status Existing
Year Built 1994
Year Renovated 2019
Stories 1
Cap Rate 6.04%
Vacancy 100%
Annual Taxes $58,840.00
Gross Bldg 13,450 SqFt
RBA 13,450 SqFt
Land Area 1.72 Acres
Avail Parking 4/1000SqFt
Improvements Located in downtown Anoka, next to Riverfront Park and Rum River. Situated on Main Street within walking distance of US Hwy 169.
Net Op Inc $202,270
Market NW Metro Retail
Sub-Market Anoka County
Legal Descr LOTS 1 THRU 5 INCL BLK 44 CITY OF ANOKA, TOG/W LOT 6 SD BLK 44, EX THAT PRT DESC AS FOL: BEG AT NW COR OF SD LOT 6, TH SLY ALG W LINE OF SD LOT TO ELY EXTN OF S LINE OF LOT 8 SD ADD, THE AT RT ANG 50 FT, TH N PRLL/W SD W LINE TO N LINE OF SD LOT 6, TH WLY ALG SD N LINE TO POB, TOG/W LOTS 10 THRU 13 INCL SD BLK, SUBJ TO EASE OF REC
Free-standing Walgreens located at the intersection of Highway 169 (Ferry Street) and Main Street in downtown Anoka, MN; known as one of the busiest intersections in Anoka County. The building is a +/-13,450 SF retail property and was constructed in 1994. The Walgreens net lease has an original term through December 31, 2064. Walgreens has a continuous lease termination option every five (5) years with the next option available on 12/31/2024. The below-market rent is at $15.04 PSF. The property is located in a Qualified Opportunity Zone (QOZ) and may eventually be redeveloped into a mixed-use concept. The property is located on the intersection of Main Street & Ferry Street (Highway 169) adjacent to downtown Anoka. Situated on a signalized corner, the property experiences approximately 59,000 vehicles per day.
  • Excellent Walgreens with Very High Store Sales
  • Purchase Cap Rate: 6.04%
  • Property in a Qualified Opportunity Zone (QOZ)
  • Assumable Mortgage
  • Direct Purchase-1031 Investment
  • DST Structure Available
1/22/2020 12:00:00 AM 2/21/2020 6:50:15 PM
Garrett Farmer
Director
NAI Legacy
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