600 County Rd Blaine, MN 55434
- Retail properties
- 14,895 SF
Current Use by Public Records
- Retail properties
Property Details for 600 County Rd
- Year built
- 2000
- Property size
- 14,895 SF
- Property type
- Retail properties
- Property subtype
- Drug stores
Description
This exceptional investment opportunity presents a 14,895-square-foot retail property currently occupied by a Walgreens in Blaine, Minnesota. Located at 600 County Road 10, 55434, this well-established pharmacy boasts a strong financial performance, reflected in its asking price of $3,079,375 ($206.74/sq ft). The building, constructed in 2000 and zoned 3A-Commercial/Industrial, comprises six units. The lease agreement includes a percentage rent formula and a Modified NNN structure. Tenant responsibilities encompass real estate taxes, building insurance, liability insurance, operating expenses, parking area maintenance (excluding capital expenses), and HVAC, plate glass, and interior maintenance and replacement. Landlord responsibilities include building exterior maintenance, parking area capital expenses, and structural components, including the roof. A key feature of the lease is the tenant's option to terminate the lease with six months' notice after the initial 20-year term, and every five years thereafter. The next potential termination date is October 31, 2025. This presents a compelling opportunity for investors seeking a stable, high-performing asset in a desirable location within Anoka County. The property's strong tenant and favorable lease terms make it an attractive addition to any portfolio.
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
- Blaine
- County
- Anoka
- State
- Minnesota
- Longitude
- -93.2553
- Latitude
- 45.1266
