Dollar General | Floodwood, MN | 502 W Hwy 2
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Dollar General | Floodwood, MN 502 W Hwy 2
9,026 SF Retail Building Floodwood, MN 55736 $1,532,229 CAD ($170 CAD/SF) 7.25% Cap Rate
Investment Highlights
- Absolute NNN Lease
- Well-Positioned in the Market
- Limited Competition
- Strategic Highway Location
Executive Summary
Absolute NNN Lease -
Absolute NNN Master lease with zero landlord responsibilities. Investors will appreciate the established national tenant, over 6 years of term remaining, and corporate guarantee.
Limited Competition -
This Dollar General serves as a crucial retail option in an underserved area with minimal direct competition. Floodwood, located in St. Louis County, is strategically positioned roughly halfway between Duluth and Grand Rapids. Larger retail hubs, including Hibbing, Grand Rapids, and Cloquet, are 30–40 minutes away, ensuring consistent demand from the local community and travelers.
Well-Positioned in the Market -
This property is situated in a local retail submarket with a remarkably low vacancy rate of 0.5%. The tenant benefits from below-market rent, and the newer, easily accessible building enhances its appeal.
Strategic Highway Location -
Located along U.S. Highway 2, Floodwood’s primary thoroughfare with over 5,200 vehicles passing daily, the property benefits from dual highway access via U.S. Highway 2 and MN Highway 73, making it a convenient retail stop for both locals and travelers.
Absolute NNN Master lease with zero landlord responsibilities. Investors will appreciate the established national tenant, over 6 years of term remaining, and corporate guarantee.
Limited Competition -
This Dollar General serves as a crucial retail option in an underserved area with minimal direct competition. Floodwood, located in St. Louis County, is strategically positioned roughly halfway between Duluth and Grand Rapids. Larger retail hubs, including Hibbing, Grand Rapids, and Cloquet, are 30–40 minutes away, ensuring consistent demand from the local community and travelers.
Well-Positioned in the Market -
This property is situated in a local retail submarket with a remarkably low vacancy rate of 0.5%. The tenant benefits from below-market rent, and the newer, easily accessible building enhances its appeal.
Strategic Highway Location -
Located along U.S. Highway 2, Floodwood’s primary thoroughfare with over 5,200 vehicles passing daily, the property benefits from dual highway access via U.S. Highway 2 and MN Highway 73, making it a convenient retail stop for both locals and travelers.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,026 SF
Building Class
B
Year Built
2016
Price
$1,532,229 CAD
Price Per SF
$170 CAD
Cap Rate
7.25%
NOI
$111,087 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.29
Lot Size
0.71 AC
Zoning
MUNS
Amenities
- Pylon Sign
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $473,577 CAD | |
| Land Assessment | $65,487 CAD | Total Assessment | $539,064 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$65,487 CAD
Improvements Assessment
$473,577 CAD
Total Assessment
$539,064 CAD
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Dollar General | Floodwood, MN | 502 W Hwy 2
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