Property Details for 200 Hwy

Property size

22,700 SF

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 prime Minnesota markets – Medina, Rockford, and Prior Lake – these properties are branded as Holiday Stationstores, a well-known regional brand under the Alimentation Couche-Tard/Circle K umbrella. Each store benefits from a 20-year lease, originally commencing October 1, 2007, with a remaining term of approximately 2.9 years. Crucially, the leases include two 5-year renewal options, each with a 13% rent increase. The current asking price is $15,250,000, representing a compelling price per square foot of $671.81 and a 7.07% cap rate. The portfolio boasts 100% occupancy and a strong net operating income (NOI) of $1,078,290. The investment-grade credit tenant provides significant security, and the structure includes performance rent, offering investors potential upside based on store performance. This is a passive investment opportunity with minimal landlord responsibilities, offering a stable and potentially lucrative return. The properties are situated in a robust economic region, benefiting from Minnesota's strong growth and the presence of a major oil refinery. This portfolio presents a rare chance to acquire a well-established, high-performing retail asset with significant long-term potential.

Location Insight

City

Medina

County

Hennepin

State

Minnesota

Longitude

-93.5265

Latitude

45.0444