New Retail NNN Ground
For Sale
Contact for pricing
Pending
2306 S Mentzer St, Mitchell, SD
New construction retail property with long-term corporate ground lease.
Property Size11,480 SF
Lot Size2.15 Acres
Days on Market665
Property Features for 2306 S Mentzer St
General Information
Standard status
Pending
Size
11,480 SF
Lot size
2.15 Acres
Property subtype
RETAIL
Listing Agency:
Marcus & Millichap | Phoenix
(602) 687-6700
Listed By:
Mark Ruble · License #SA550593000
(602) 770-2935
Source:
Moodyscre
Added: Nov 21, 2024
Changed: Aug 8
Last Checked: Sep 16 at 6:28PM
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 Marcus & Millichap | Phoenix
Investment Insights
Based on property information with market context.
This is a newly constructed retail property featuring a 20-year absolute triple-net (NNN) corporate ground lease. Constructed in 2024, the property benefits from its location between a Super Walmart and Menard's. The property is positioned in close proximity to Interstate 90, a connector for the Sioux Falls city area. The surrounding area includes national tenants such as Cabela's, Tractor Supply Co, Sherwin Williams Paint Store, and Dollar Tree. The lease includes 10 percent rental increases every five years, with six, five-year renewal options. The value of improvements exceeds the purchase price.
Key Highlights
- Brand New 20‑Year Absolute Triple‑Net (NNN) Corporate Ground Lease
- Exceptional Residual Value - Value of Improvements well Exceeds Purchase Price
- Enjoy 10 Percent Rental Increases Every Five Years with Six, Five Year Renewals
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
243
Businesses Nearby
272k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 27%
Superstores 26%
Home Improvements & Furnishings 14%
Apparel 14%
Walmart
Superstores
71,189 visits/mo
0.2 miles
Menards
Home Improvements & Furnishings
32,124 visits/mo
0.1 miles
Culver's
Dining
31,415 visits/mo
0.2 miles
Cabela's
Apparel
28,146 visits/mo
0.3 miles
Shell
Shops & Services
21,730 visits/mo
0.4 miles
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Storefront property - New construction retail property with long-term corporate ground lease.
Where is this storefront property located?
The property is located at 2306 S Mentzer St Mitchell, SD.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Brand New 20‑Year Absolute Triple‑Net (NNN) Corporate Ground Lease; Exceptional Residual Value - Value of Improvements well Exceeds Purchase Price; Enjoy 10 Percent Rental Increases Every Five Years with Six, Five Year Renewals
