1665 White Bear Ave N - Drug Store FOR SALE
Saint Paul, MN 55106 |
$2,666,700 USD
404-441-3849
1665 White Bear Ave N
Saint Paul, MN 55106
HIGHLIGHTS
- Absolute NNN Lease
- The offering boasts a 92% rent increase at the onset of the first renewal option in 2034
- This Walgreens store has an operating history of 22 years, demonstrating tenant’s commitment to the site
- Positioned less than 12 miles east of downtown Minneapolis
- 6.8 MSF of retail, 2 MSF of office, 3.9 MSF of industrial and 13,329 multi-family units within a 3-mile radius
- Population of 131,298 and an average household income of $91,601 within a 3-mile radius
OVERVIEW
CBRE is pleased to offer for sale the 15,085 square-foot Walgreens situated on 1.25 acres in St. Paul, MN - a component of the Minneapolis-St. Paul-Bloomington, MN-WI Metropolitan Statistical Area (MSA Population: 3.8M). Walgreens’ absolute NNN lease features ±9.8 years of term remaining with ten 5-year renewal options. The original 25-year term was originally set to expire in 2029, but the lease was extended early through 2034.
FOR SALE DETAILS
PRICE
$2,666,700 USD
PRICE/SF
$177 USD /SF
CAP RATE
7.5%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Walgreens: St. Paul, MN
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Drug Store
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2003
SPRINKLERS
-
PARKING SPACES
56
LAND DETAILS
LAND ACRES
1.25 AC
LAND SF
54,450 SF
ZONING
T2
APN/PARCEL ID
22-29-22-11-0154
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404-441-3849
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404-441-3849
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