3237-3261 S Service Rd S Red Wing, MN
Unanchored retail center in Red Wing, Minnesota, a tourist destination.
Property size:
40,389 SFLot size:
8.22 AcresProperty Features for 3237-3261 S Service Rd S
General Information
- Size
- 40,389 SF
- Lot size
- 8.22 Acres
Source:
Moodyscre
Listing Agent: Amy Senn
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Unanchored Retail Center For Sale
This unanchored retail center, is part of a portfolio package that includes two buildings with a total area of 40,389 square feet. The property is situated at the main intersection of Highway 61 and Tyler Road South in Red Wing, MN, approximately 55 miles southeast of Minneapolis. Red Wing is a popular tourist destination along the Mississippi River. The property is located in the main trade area, surrounded by national retailers. The property offers the opportunity to increase rent to market as leases expire. Approximately 50% of the GLA are original tenants and have been at the property for 23+ years. There is minimal near-term lease expiration with no tenants’ leases expiring in the first year of the hold period. The tenants in the property are strong performers within their competitive set. Red Wing serves as a significant retail hub in southeast, MN drawing consumers from beyond its city limits; 52% of its shoppers are nonresidents. Red Wing ranks as a top weekend destination for tourism, nestled along the banks of the Mississippi river and known for its natural beauty, historic charm and small-town feel bringing millions of dollars annually to the local economy.
Location Intelligence
Current Use by Public Records
Strip malls
Map
- City
- Red Wing
- County
- Goodhue
- State
- Minnesota
- Longitude
- -92.5369563
- Latitude
- 44.5660691
Nearby Similar for Sale
FAQs
What type of property is this?
Shopping center - Unanchored retail center in Red Wing, Minnesota, a tourist destination.
Where is this shopping center located?
The property is located at 3237-3261 S Service Rd S Red Wing, MN.
What is the asking price?
The asking price for this property is $7,200,000.
What are key features of this property?
This property features: - Main & Main location in a dynamic trade area and popular tourist destination.; - Opportunity to increase rent to market rate as leases expire, with current low average rent of $14.45 per square foot.; - Stable rent roll with minimal near-term lease expiration and no leases expiring in the first year.