2560 1St St Willmar, MN 56201
- Retail properties
- 7,800 SF
- 1.53 lot acres
Current Use by Public Records
- Retail properties
Property Details for 2560 1St St
- Year built
- 2016
- Lot size
- 1.53 lot acres
- Property size
- 7,800 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This 7,800 square foot retail property in Willmar, Minnesota, is situated on a 1.53-acre lot and boasts 47 parking spaces. Currently 100% occupied by two national credit tenants, Spectrum and Home Choice, under a NNN lease structure, this multi-tenant building offers a strong, stable income stream. Built in 2016, the property features a $149,000 NOI and a 7.00% cap rate, with an asking price of $2,129,000 ($272.95/sq ft). Fixed rental increases are built into the lease every five years, providing long-term security. The property enjoys a prime location on 1st St S, a major arterial road with over 15,898 vehicles per day, and benefits from high visibility and accessibility due to its proximity to national retailers such as Target and Menards. The strong trade area demographics, including an average household income of $80,980 within a 10-mile radius, further enhance the investment potential. The property's APN is 95-9227815 and is zoned for commercial use. This exceptional opportunity presents a compelling investment in a thriving retail corridor with significant growth potential.
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
- Willmar
- County
- Kandiyohi
- State
- Minnesota
- Longitude
- -95.0427
- Latitude
- 45.098
