1105 3rd Ave W - Freestanding FOR SALE


International Falls, MN 56649
$795,000 USD
678-808-2762
1105 3rd Ave W, International Falls, MN for Sale
$795,000 USD
Freestanding - FOR SALE
1/4
null | 9% Cap Rate

1105 3rd Ave W
International Falls, MN 56649


OVERVIEW

LOW RENT & PRICE POINT • The subject property has a low rent which equates to a low price point of $795,000. RECENTLY EXTENDED CORPORATE NN LEASE WITH DOLLAR TREE • This Family Dollar Tree has been operating at this location since 2013 and recently extended the lease for an additional 5 years. • Dollar Tree exercised their first option period and increased the rent in July 2023 which extended the lease through June 2028. • There are over 4 years remaining on a corporate guaranteed NN lease with Dollar Tree. • This lease extension & rent increase speaks to Dollar Tree's confidence and dedication to this market & location. • Tenant is responsible for parking lot, taxes, Insurance, HVAC, and Utilities. • There are limited Landlord responsibilities which include only Roof & Structure. • There are 10% rent increases in each of the remaining four, 5-year option periods. INVESTMENT GRADE TENANT • Dollar Tree/Family Dollar is a publicly traded (NYSE: DLTR) Fortune 500 company with an S&P investment grade credit rating of BBB. • Dollar Tree/Family Dollar operate 16,340+ stores across 48 states and five Canadian provinces. • Dollar Tree has been in business for 70 years and has a current net worth of over $33 billion. INTERNATIONAL FALLS • International falls is the county seat of Koochiching county and is located on the Rainy River directly across from Fort Frances in Ontario, Canada. • There is a major U.S. Customs and Border Protection Port of Entry on the International Falls side of the toll bridge and a Canadian Customs entry point on the north side of the bridge. • Nearly 900,000 vehicles cross the toll bridge each year and it is only 1 mile from this Family Dollar. • The largest industries in International Falls, MN are Manufacturing, Retail Trade, and Health Care & Social Assistance. • Home to Voyageurs National Park which supports over 250,000 visitors per year.

FOR SALE DETAILS

PRICE

$795,000 USD

PRICE/SF

$70 USD /SF

CAP RATE

9%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Family Dollar | Recent Lease Extension

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1966

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,394 SF

ZONING

-

APN/PARCEL ID

92-015-01180

ASK ABOUT THIS PROPERTY

Don McMinnMarcus & MillichapMore Info
678-808-2762

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Don McMinnMarcus & MillichapMore Info
678-808-2762

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.