1709 1st St S
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1709 1st St S
6,500 SF 100% Leased Retail Building Willmar, MN 56201 $4,267,175 CAD ($656 CAD/SF) 7.19% Cap Rate
INVESTMENT HIGHLIGHTS
- Starbucks has invested over $100,000 in upgrading the drive-thru in 2024.
- The 1200 SF in the middle has been built out by the owner $110,000.
EXECUTIVE SUMMARY
This is a rare opportunity to invest in a fully occupied, newly constructed retail property with strong tenants and a prime location.
Corporate Guaranties from Top Tier Tenants
Starbucks is the leading coffee provider in the nation, carrying an investment grade credit rating of “BBB” with S&P. Aspen Dental is a leading dental service provider with over 900 locations across the country.
New Construction Building
The property is newly constructed, giving a new owner a low maintenance structure with high quality build-outs and a drive-thru.
Strong Local Trade Area
The Property sits with frontage to the primary commercial corridor for Willmar, on an outparcel to Uptown Willmar, a 450,000 square foot shopping center anchored by Kohl’s and Harbor Freight. Other major traffic drivers on the street include Target, Cash Wise Foods, Home Depot, and Willmar Middle School.
High Traffic Corridor
Sitting on 1st Street, the Property benefits from frontage to the highest traffic counts in Willmar. 1st Street connects Highways 12 and 71/23, both primary corridors through central Minnesota.
Investment Highlights
Starbucks has invested over $100,000 in upgrading the drive-thru in 2024. The 1200 SF in the middle has been built out by the owner $110,000.
Corporate Guaranties from Top Tier Tenants
Starbucks is the leading coffee provider in the nation, carrying an investment grade credit rating of “BBB” with S&P. Aspen Dental is a leading dental service provider with over 900 locations across the country.
New Construction Building
The property is newly constructed, giving a new owner a low maintenance structure with high quality build-outs and a drive-thru.
Strong Local Trade Area
The Property sits with frontage to the primary commercial corridor for Willmar, on an outparcel to Uptown Willmar, a 450,000 square foot shopping center anchored by Kohl’s and Harbor Freight. Other major traffic drivers on the street include Target, Cash Wise Foods, Home Depot, and Willmar Middle School.
High Traffic Corridor
Sitting on 1st Street, the Property benefits from frontage to the highest traffic counts in Willmar. 1st Street connects Highways 12 and 71/23, both primary corridors through central Minnesota.
Investment Highlights
Starbucks has invested over $100,000 in upgrading the drive-thru in 2024. The 1200 SF in the middle has been built out by the owner $110,000.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
6,500 SF
Building Class
C
Year Built
2017
Price
$4,267,175 CAD
Price Per SF
$656 CAD
Cap Rate
7.19%
NOI
$306,658 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.15
Lot Size
1.00 AC
Zoning
Commercial
Bike Score®
Very Bikeable (77)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 95-699-1000 | Improvements Assessment | $866,614 CAD |
| Land Assessment | $885,745 CAD | Total Assessment | $1,752,359 CAD |
PROPERTY TAXES
Parcel Number
95-699-1000
Land Assessment
$885,745 CAD
Improvements Assessment
$866,614 CAD
Total Assessment
$1,752,359 CAD
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1709 1st St S
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