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    22129 321St Ave Aitkin, MN 56431

    For Sale
    $2,035,660

    NNN leased Dollar General near Mille Lacs Lake.

    Property size:
    10,566 SF
    Lot size:
    2.65 Acres

    Property Features for 22129 321St Ave

    General Information

    Size
    10,566 SF
    Lot size
    2.65 Acres

    Source: Upland Real Estate Group, Inc Agent Deborah Vannelli

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Dollar General Investment Opportunity

    This property features a Dollar General operating under a 15-year NNN lease with 5% rent increases every 5 years, guaranteed by Dollar General Corporate. Dollar General, rated BBB by S&P, has over 20,000 stores across the United States and Mexico, with revenues of $38.7 billion and a net worth of $6.7 billion as of February 2, 2024. The store is located near Mille Lacs Lake, Minnesota’s second-largest inland lake, a popular fishing destination for Walleye, Muskie, Northern Pike, and Smallmouth Bass. Mille Lacs is home to several resorts, including Agate Bay Resort, Appledorn’s Sunset Bay Resort, Fisher’s Resort, Mille Lacs Lake Resort, and Izaty’s. The average household income within a 10-mile radius is $80,432. Given that the nearest grocery store is over 15 miles away, this Dollar General serves as a crucial resource for seasonal guests at nearby resorts and cabins. Aitkin is located approximately 2 hours north of Minneapolis/St. Paul. The property size is 10,566 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Restaurant Realty agency Hotel & Motel Department Store Storage Facility Food Market Discount Store Grocery Store Bar & Pub Wine and Liquor Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Aitkin
    County
    Aitkin
    State
    Minnesota
    Longitude
    -93.5179476
    Latitude
    46.3344672

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    FAQs

    What type of property is this?
    Grocery and convenience store - NNN leased Dollar General near Mille Lacs Lake.
    Where is this grocery and convenience store located?
    The property is located at 22129 321St Ave Aitkin, MN.
    What is the asking price?
    The asking price for this property is $2,035,660.
    What are key features of this property?
    This property features: - 15-year NNN lease with Dollar General Corporate Guaranty.; - 5% rent increases every 5 years.; - Dollar General is an S&P Rated BBB company with substantial revenue and net worth.
    (612) 376-4475
    Request Owner's contact information
    22129 321St Ave Aitkin, MN 56431
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    Aitkin, MN 56431
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    22129 321St Ave Aitkin, MN 56431
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