Institutionally Positioned Retail
1417 East 7th Street Monticello, MN 55362
1417 East 7th Street, Monticello, MN, 55362
Contact for pricing
For Sale
Contact for pricing
29,805 SF retail center in Monticello, Minnesota for sale.
Property Size29,805 SF
Price / SF$258.75
Days on Market67
Property Features for 1417 East 7th Street
General Information
- Standard status
- Active
- Size
- 29,805 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2007
Listing Agency
Cushman & Wakefield - Nashville, Tennessee
Listed by
Evan Halkias · License #IL 475120259
Source
Crexi
Added: May 13 Checked: Jul 17 at 4:59 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cushman & Wakefield - Nashville, Tennessee
Investment Insights
Based on property information with market context.
Union Crossings is a 29,805-square-foot neighborhood retail center located at the northwest corner of Interstate 94 and Fenning Avenue in Monticello, Minnesota. It is strategically situated within the dominant retail corridor serving Wright County and the broader I-94 trade area. The property benefits from immediate adjacency to national retailers including Target, Home Depot, Marshalls, and PetSmart. The property is currently 96% leased and generates a Year 1 NOI of approximately $539,897. The asset features a Weighted Average Lease Term of 4.9 years. Monticello functions as a regional retail hub, with nearly 69% of retail sales derived from non-resident consumers.
Key Highlights
- 96% leased neighborhood retail center generating a Year 1 NOI of approximately $539,897.
- Strategically located at the northwest corner of Interstate 94 and Fenning Avenue in Monticello, Minnesota, within the dominant retail corridor serving Wright County.
- Anchored by top‑performing national retailers including Target, Home Depot, Marshalls, and PetSmart.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $565.1k | $18.96 |
| − Vacancy | −$40.7k | −$1.37 |
| EGI | $524.4k | $17.59 |
| − OpEx | −$157.3k | −$5.28 |
| NOI | $367.1k | $12.32 |
29,805 SF · lease $18.96/SF/yr · vacancy 7.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$5.24M
$4.59M – $6.12M
NOI $367,091 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.11M
$6.22M – $8.30M
NOI $497,760 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Five Below
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
Similar Off Market Nearby
- Sixth Street Station — 508 MN-25, Monticello, MN 55362
FAQs
What type of property is this?
Shopping center - 29,805 SF retail center in Monticello, Minnesota for sale.
Where is this shopping center located?
The property is located at 1417 East 7th Street Monticello, MN.
What is the asking price?
The asking price for this property is $7,712,000.
What are key features of this property?
This property features: 96% leased neighborhood retail center generating a Year 1 NOI of approximately $539,897.; Strategically located at the northwest corner of Interstate 94 and Fenning Avenue in Monticello, Minnesota, within the dominant retail corridor serving Wright County.; Anchored by top‑performing national retailers including Target, Home Depot, Marshalls, and PetSmart.
