701 Dorchester Dr Hoyt Lakes, MN 55750
- Retail properties
- 10,500 SF
- 0.70 lot acres
Current Use by Public Records
- Family Dollar / Toy Store / Dollar 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
- Drug stores
Description
This exceptional investment opportunity presents a fee-simple, 10,500 square foot retail property in Hoyt Lakes, Minnesota. The property, built in 2024, is currently 100% occupied by a triple-net (NN+) lease with a credit-rated corporate guarantee from Dollar General, Dollar Tree, and Family Dollar. The lease commenced February 4, 2024, and has a remaining term of nine years, with six, five-year renewal options at $5,250 annual rent increases. The property boasts a strong 8.25% cap rate and a net operating income (NOI) of $136,500. Situated on a 0.7-acre lot at 701 Dorchester Dr, Hoyt Lakes, MN 55750, this location offers a unique advantage as the only alternative to the local grocery store. The property includes a 20-year transferable roof warranty. The average household income in the area exceeds $79,881. This is a strategically located investment with a strong tenant and significant upside potential, approximately 64 miles north of Duluth. The combined Dollar Tree/Family Dollar stores have demonstrated a 20% higher sales volume compared to single-branded locations. Dollar Tree, with its investment-grade credit rating, has shown resilience and growth, even during challenging economic times. This is a rare opportunity to acquire a high-performing, low-risk retail investment with a long-term lease and substantial future 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
- Hoyt Lakes
- County
- St. Louis
- State
- Minnesota
- Longitude
- -92.1393
- Latitude
- 47.5194
