Dollar General Retail
New
For Sale
$2,071,000
35 2nd Ave SE, Elgin, MN 55932
The retail property is leased to Dollar General under an absolute NNN structure.
Property Size9,042 SF
Price / SF$229.04
Days on Market5
Property Features for 35 2nd Ave SE
General Information
Standard status
Active
Size
9,042 SF
Property subtype
Discount
Lease Type
Absolute Net
Additional Details
Cap Rate
6.75%
Amenities
15-Year Absolute NNN Lease with 5% Increases Every 5 Years
Investment Grade Credit Tenant (Rated 'BBB' by S&P), Ranked #112 on Fortune 500 in 2025
Dollar General is the Nation's Largest Retailer with 20,600+ Stores
Brand New Construction, No Landlord Responsibilities
Serving Over 21,000 Residents in Wabasha County | 17 Northeast of Rochester
Average Household Income Exceeds $113,000 in Primary Trade Area
Strategic Location | Nearest Dollar General Store Is Approximately 10 Miles Away
Hard Corner Location Along Major North/South Artery
Building Details
Building Size
9,042 SF
Listing Agency:
Marcus & Millichap | San Diego
Listed By:
Phil Sambazis · License #License(s): CA: 01474991
(858) 373-3174
Source:
Marcusmillichap
Added: Oct 7
Last Checked: Oct 9 at 4:11PM
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 | San Diego
Investment Insights
Based on property information with market context.
The 9,042-square-foot retail property at 35 2nd Ave SE is occupied by Dollar General under a 15-year absolute NNN lease. It is located in Elgin, Minnesota, within the Rochester MSA.
Key Highlights
- 9,042‑square‑foot retail property
- Dollar General tenant
- 15‑year absolute NNN lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$116,885
Cap Rate
5.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,337,700
$2.3M
Cap Rate 7%
$1,669,786
$1.7M
Cap Rate 9%
$1,298,722
$1.3M
Market Conditions
NOI Build-Up for 9,042 SF
Gross rent
$171.4K $18.96/SF
− Vacancy
−$4.5K −$0.49/SF
EGI
$167.0K $18.47/SF
− OpEx
−$50.1K −$5.54/SF
NOI
$116.9K $12.93/SF
Area
Wabasha County, MN
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,337,700
Cap Rate 7%
$1,669,786
Cap Rate 9%
$1,298,722
Alternative Uses
Best Use
Retail
$1.67M
$1.46M – $1.95M
NOI $116,885 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.66M
$2.32M – $3.10M
NOI $185,932 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
86
Businesses Nearby
Explore this area
Business Placement
Demographics for 55932, MN
1,934
Population
866
Households
2.2
Avg Household Size
39
Median Age
32%
College-Educated
96%
High-School Grad
52.4 sq mi
ZIP Area
37
Density / Sq Mi
$102,727
Median Household Income
$46,886
Median Earnings
$744
Median Rent
$288,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - The retail property is leased to Dollar General under an absolute NNN structure.
Where is this retail space located?
The property is located at 35 2nd Ave SE Elgin, MN.
What is the asking price?
The asking price for this property is $2,071,000.
What are key features of this property?
This property features: 9,042‑square‑foot retail property; Dollar General tenant; 15‑year absolute NNN lease
