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Family Dollar 12 Minnesota Ave N

8,359 SF 100% Leased Retail Building Aitkin, MN 56431 $1,100,920 ($132/SF) 10% Cap Rate

Retail Buildings Minnesota Aitkin 12 Minnesota Ave N, Aitkin, MN 56431

Investment Highlights

  • Original 15-Year Absolute Triple Net (NNN) Lease
  • Ten Percent (10%) Rental Increase in July 2025
  • Approximately 6.8 Years Remaining
  • Six (6), Five (5)-Year Tenant Renewal Options

Executive Summary

NNN Pro Group is pleased to present the exclusive listing for Family Dollar located at 12 Minnesota Avenue N, Aitkin, Minnesota. The site consists of roughly 8,359 rentable square feet of building space on estimated 0.85-acre parcel of land. This Family Dollar is subject to a 15-year absolute triple-net (NNN) lease, which commenced December 18th, 2015. The current annual rent is $110,092.08 and is scheduled to increase by 10% in July 2025, and in each of the 6, 5-year renewal options.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
8,359 SF
Building Class
C
Year Built
2014
Price
$1,100,920
Price Per SF
$132
Cap Rate
10%
NOI
$110,092
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.23
Land Acres
0.85 AC
Opportunity Zone
Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning
Commercial - Commercial
Parking
30 Spaces (3.59 Spaces per 1,000 SF Leased)
Frontage
122 FT on Minnesota Avenue North
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PROPERTY TAXES

Parcel Number 56-1-002100 Improvements Assessment $418,800
Land Assessment $125,100 Total Assessment $543,900

PROPERTY TAXES

Parcel Number
56-1-002100
Land Assessment
$125,100
Improvements Assessment
$418,800
Total Assessment
$543,900
(332) 345-4222

  • Listing ID: 32719103

  • Date on Market: 8/7/2024

  • Last Updated:

  • Address: 12 Minnesota Ave N, Aitkin, MN 56431

More public record information on 12 Minnesota Ave N, Aitkin, MN 56431

The Retail Property at 12 Minnesota Ave N, Aitkin, MN 56431 is currently available For Sale. Contact NNN Pro Group for more information.

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Family Dollar | 12 Minnesota Ave N
(332) 345-4222 x

Family Dollar | 12 Minnesota Ave N

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Glen Kunofsky

(332) 345-4222

(332) 345-4222

Christopher Urban

(207) 272-2425

(207) 272-2425

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