930 Frontenac Dr Winona, MN 55987-6504

Property Details for 930 Frontenac Dr

Year built

2012

Lot size

0.39 lot acres

Property size

2,800 SF

Property type

Commercial real estate

APN

32.366.0010

APU

323660010

Description

This exceptional investment opportunity presents a 3,000 square foot storefront occupied by Verizon Wireless at 930 Frontenac Drive, Winona, Minnesota, 55987. The property boasts a strong net lease with a corporate guarantee from Verizon Wireless (NYSE: VZ), offering significant investment security. The current lease, commenced December 1, 2012, has a remaining term of five years, with a five-year option period including a 12% rent increase. The property generates a net operating income (NOI) of $109,500, resulting in a 7.00% cap rate based on the asking price of $1,564,000 ($521.33 per square foot). Verizon recently extended their lease, demonstrating their long-term commitment to this prime retail location. The property benefits from its position in a dense retail corridor, adjacent to a Walmart Supercenter and near other national retailers such as Target and Menards. Furthermore, its proximity to Winona Health, a large hospital and medical campus, and two universities (Winona State University and Saint Mary's University) ensures a high-traffic area with a strong customer base. This is a rare opportunity to acquire a stable, high-performing retail investment with a blue-chip tenant in a desirable location. The lease expires December 1, 2029.

Location Insight

City

Winona

County

Winona

State

Minnesota

Longitude

-91.6204

Latitude

44.0354

CBSA code

49100

CBSA name

WINONA, MN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments