Fee Simple Grocery
For Sale
$3,745,000
9010 Jamaica Ave S, Cottage Grove, MN 55016
Single-tenant net-lease grocery property with dedicated parking and truck-accessible rear circulation.
Property Size20,027 SF
Lot Size3.40 Acres
Price / SF$186
Days on Market107
Property Features for 9010 Jamaica Ave S
General Information
Standard status
Active
Size
20,027 SF
Total Parking Spaces
100
Lot size
3.40 Acres
Property subtype
Grocery Store
Lease Type
NN
Site & Location
Corner Location
Yes
Road Access
Yes
Additional Details
Cap Rate
6%
Amenities
Single-Tenant Net-Leased ALDI
Tenant has been Operating at this Location since 2016, Showcasing Strong Commitment
Tenant Recently Exercised a Five-Year Option with Four, (Five) Year Renewal Options Remaining
Located Within a Retail Hub, Surrounded by National Retailers Attracting Millions of Annual Visitors including Cub Grocery Store, Target, Menards, Walmart Supercenter and More
Positioned Just off of U.S. Highway 10/61, Which Sees 42,022 Vehicles per Day
Average Household Income of $136,738 within a Five-Mile Radius
Since 2010-2020, the Population Grew 21.22 Percent within a Five-Mile Radius and is Expected to Grow an Additional 6.97 Percent by 2030
Building Details
Building Size
20,027 SF
Tenancy
Single
Listing Agency:
Chicago Oak Brook Office
Listed By:
Adrian Mendoza · License #License(s): IL: 475.147980
(630) 570-2163
Source:
Marcusmillichap
Added: Jul 3
Changed: Oct 11
Last Checked: Oct 16 at 5:45AM
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 Chicago Oak Brook Office
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Investment Insights
Based on property information with market context.
This single-tenant grocery property includes 20,027 square feet on a 3.40-acre parcel, with fee simple ownership of both the building and land. The store has operated at the site for 10 years and recently exercised the first of five 5-year option periods under its lease structure.
Located at 9010 Jamaica Ave S in Cottage Grove, Minnesota, the property occupies a hard corner at a signalized intersection and provides three points of ingress and egress. Front parking accommodates 100 surface spaces, while the rear lot supports delivery-truck circulation. The site is within the Minneapolis–St. Paul MSA.
Located at 9010 Jamaica Ave S in Cottage Grove, Minnesota, the property occupies a hard corner at a signalized intersection and provides three points of ingress and egress. Front parking accommodates 100 surface spaces, while the rear lot supports delivery-truck circulation. The site is within the Minneapolis–St. Paul MSA.
Key Highlights
- Fee simple ownership includes both the 20,027‑square‑foot building and land
- Single‑tenant net‑lease grocery property operated at the site for 10 years
- First of five 5‑year option periods recently exercised
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$303,349
Cap Rate
8.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,066,980
$6.1M
Cap Rate 7%
$4,333,557
$4.3M
Cap Rate 9%
$3,370,544
$3.4M
Market Conditions
NOI Build-Up for 20,027 SF
Gross rent
$432.6K $21.60/SF
− Vacancy
−$28.1K −$1.40/SF
EGI
$404.5K $20.20/SF
− OpEx
−$101.1K −$5.05/SF
NOI
$303.3K $15.15/SF
Area
Washington County, MN
Vacancy
6.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,066,980
Cap Rate 7%
$4,333,557
Cap Rate 9%
$3,370,544
Alternative Uses
Best Use
Specialty Retail
$4.33M
$3.79M – $5.06M
NOI $303,349 @ 7.0% cap · market cap 8.10%
Second Best
Retail
$3.35M
$2.93M – $3.91M
NOI $234,676 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$5.56M
$4.87M – $6.49M
NOI $389,402 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
387
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 55016, MN
38,427
Population
13,953
Households
2.8
Avg Household Size
37
Median Age
39%
College-Educated
95%
High-School Grad
30.1 sq mi
ZIP Area
1,277
Density / Sq Mi
$121,295
Median Household Income
$61,724
Median Earnings
$1,653
Median Rent
$358,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Target Grocery — 8655 E Point Douglas Rd S, Cottage Grove, MN 55016
- Cub Pharmacy — 8690 E Point Douglas Rd S, Cottage Grove, MN 55016
- Cub - Cottage Grove — 8690 E Point Douglas Rd S, Cottage Grove, MN 55016
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Single-tenant net-lease grocery property with dedicated parking and truck-accessible rear circulation.
Where is this grocery and convenience store located?
The property is located at 9010 Jamaica Ave S Cottage Grove, MN.
What is the asking price?
The asking price for this property is $3,745,000.
What are key features of this property?
This property features: Fee simple ownership includes both the 20,027‑square‑foot building and land; Single‑tenant net‑lease grocery property operated at the site for 10 years; First of five 5‑year option periods recently exercised
