Current Use by Public Records
- Retail properties & Spaces
Property Details for 7510 Hwy
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a portfolio of three absolute triple-net (NNN) leased convenience stores and gas stations, totaling 22,700 square feet. Located in Minnesota, the portfolio boasts a 7.07% cap rate and a substantial net operating income (NOI) of $1,078,290. Each property is leased to a credit-rated tenant with a corporate guarantee, ensuring financial stability. The leases are structured as absolute NNN, meaning the tenant is responsible for all operating expenses, including property taxes, insurance, and maintenance. Currently operating under the Holiday Stationstores brand (part of the Circle K family), each location benefits from a 20-year lease initially commencing October 1, 2007, with 2 five-year renewal options at a 13% rent increase per option. The current remaining lease term is approximately 2.9 years. The portfolio offers significant upside potential through performance-based rent provisions. This is a 1031 exchange eligible property, presenting a compelling opportunity for investors seeking a secure, high-performing, and low-maintenance investment. The portfolio's strong tenant, robust lease terms, and attractive financial metrics make it an ideal addition to any diversified investment portfolio. The properties are situated in established markets within Minnesota, benefiting from a stable and growing economy. This portfolio offers a rare combination of security, profitability, and long-term growth potential.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Greenfield
- County
- Hennepin
- State
- Minnesota
- Longitude
- -93.7169
- Latitude
- 45.0806
