Building Details

Tenancy Single

Listing Agency: Marcus & Millichap - Indianapolis n***@marcusmillichap.com Show Phone

Listed By: Nathan Whalen · License #IN AB21402364

Source: Crexi

Added: Apr 10 Changed: Aug 8 Last Checked: Jul 21 at 6:39AM

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Investment Insights

Based on property information with market context.

This offering presents a single-tenant Shopko Hometown retail store in St. James, Minnesota. The property is operated under a modified triple-net structure, with the tenant responsible for expenses associated with the property outside of the landlord’s responsibility for maintaining the roof and structural components of the building. The remarks indicate Shopko signed the initial 25-year lease in 1976 and has operated at the location for more than 42 years, supported by an extensive renewal history.

The current lease term has less than one year remaining, with two renewal options available for three-year terms. A 5% rent escalation is scheduled for April 1, 2019, at the start of the first option, and an additional 6% rent escalation is scheduled for April 1, 2022 at the start of the second renewal option. The tenant’s operating history and store footprint are described in the remarks, including Shopko Hometown as a smaller-format concept designed for smaller communities.

The asset is positioned for an investor or buyer seeking a long-standing single-tenant retail relationship under a modified NNN framework, with scheduled contractual rent increases tied to the renewal options.

Key Highlights

• Single‑tenant Shopko Hometown store with a modified triple‑net lease structure.
• Tenant lease has less than 1 year remaining, with two 3‑year renewal options available.
• 5% rent escalation scheduled for April 1, 2019 at the start of the first renewal option.

Property Analytics

Property Profile

Current Use

Dollar General Grocery & Convenience Store Fastcare Medical Clinic higi Physician Western Union Bank

Suggested Use

Top Pick Dental Office Real Estate Agency Pharmacy Law Firm Grocery & Convenience Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

398

Businesses Nearby

Explore this area Business Placement

Demographics for 56081, MN

6,139

Population

2,798

Households

2.2

Avg Household Size

39

Median Age

18%

College-Educated

89%

High-School Grad

177.5 sq mi

ZIP Area

35

Density / Sq Mi

$66,612

Median Household Income

$41,511

Median Earnings

$810

Median Rent

$153,400

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - Single-tenant Shopko Hometown store offered as a modified triple-net lease with short remaining term and renewal options.

Where is this retail space located?

The property is located at 301 1st Avenue S Saint James, MN.

What are key features of this property?

This property features: Single‑tenant Shopko Hometown store with a modified triple‑net lease structure.; Tenant lease has less than 1 year remaining, with two 3‑year renewal options available.; 5% rent escalation scheduled for April 1, 2019 at the start of the first renewal option.