122 3rd W St, Thief River Falls, MN 56701-1915

This exceptional investment opportunity presents a 2,466 square foot Taco John's restaurant located at 122 3rd St W, Thief River Falls, MN 56701. The property boasts a new 20-year absolute net lease with a 1.5% annual rent increase, ensuring consistent cash flow. The tenant, a Taco John's franchisee, benefits from the established brand recognition of over 400 locations across 23 states, with plans for further expansion. The property is situated on a 14,166 square foot lot and enjoys exceptional visibility on 3rd Street West, with daily traffic exceeding 7,700 vehicles. Its strategic location less than two miles from Northland Community & Technical College (4,135 students) and two blocks from Lincoln High School (567 students, 84 employees) provides a substantial customer base. Furthermore, proximity to a major employer, Digi-Key Electronics (5,000+ employees), and several hotels (Quality Inn, GrandStay Hotel & Suites, AmericInn by Wyndham, and Americas Best Value Inn & Suites) within a two-mile radius enhances its appeal. The property is also surrounded by major retailers including Walmart, Dollar Tree, Ace Hardware, and various fast-food chains. A planned remodel in 2026 further demonstrates the tenant's commitment to the location. The asking price is $1,466,000, representing a 6.75% cap rate and a $99,000 annual net operating income (NOI). Built in 2007, this property offers a secure, long-term investment with significant upside potential. The lease includes four, five-year options.