701 Dorchester Dr Hoyt Lakes, MN 55750
- Retail properties
- 10,500 SF
- 0.70 lot acres
Current Use by Public Records
- Family Dollar / Dollar Store / Clothing Store
Property Details for 701 Dorchester Dr
- Year built
- 2024
- Lot size
- 0.70 lot acres
- Property size
- 10,500 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a 10,500-square-foot Family Dollar Tree retail property in Hoyt Lakes, Minnesota. Built in 2024, this single-tenant, net-leased asset boasts a strong 9.5-year remaining lease term (expiring February 28, 2034), with six, five-year options including rent bumps of $5,250 annually ($0.50 per square foot). The property sits on a 0.7-acre lot and enjoys a 100% occupancy rate, generating a substantial net operating income (NOI) of $136,500, resulting in an attractive 8.00% cap rate. The tenant, a credit-rated, corporate-guaranteed entity, benefits from a 20-year transferable roof warranty. This strategically located property serves as a vital alternative to the local grocer, offering competitive pricing and catering to a community with an average household income exceeding $79,881. The property's location is approximately 64 miles north of Duluth. The Family Dollar Tree combination store format has demonstrated a 20% higher sales volume compared to non-co-branded stores. Dollar Tree, the parent company, holds a BBB- investment-grade credit rating and has shown remarkable resilience and growth, even during the COVID-19 pandemic. This is a rare opportunity to acquire a high-performing, low-maintenance retail investment with significant long-term potential. The asking price is $1,706,250.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hoyt Lakes
- County
- St. Louis
- State
- Minnesota
- Longitude
- -92.1391
- Latitude
- 47.5194
