1605-A 1St St, Willmar, MN 56201

This exceptional four-tenant retail strip center in Willmar, Minnesota, presents a compelling investment opportunity. Located at 1605-A 1st St S, this 28,829 square foot property boasts a strong 8.00% cap rate and a net operating income (NOI) of $57,920. The property is situated on a 2.13-acre lot and benefits from a gross lease structure with a multi-tenant occupancy of 59.16%. The asking price is $724,000, translating to an attractive price per square foot of $25.11. Key tenants include Anytime Fitness, demonstrating the property's appeal to established businesses. Two tenants recently renewed their leases, highlighting the location's desirability. The property offers significant upside potential with existing vacancies allowing for lease-up or redevelopment opportunities. No tenants have remaining lease extension options. The average replaceable rent is $7.66 per square foot (unweighted). This prime retail location is an outparcel to Uptown Willmar Mall, the area's main retail shopping center, benefiting from high foot traffic. Data from Placer.ai indicates that 90% of visitors to Uptown Willmar Mall have visited at least five times in the past year. This property offers a blend of stable income and future growth potential, making it an ideal addition to any investment portfolio. The property consists of one building.