1301 1st S St Willmar, MN 56201-4201

Property Details for 1301 1st S St

Property type

Commercial real estate

APN

95-923-8550

APU

959238550

Description

This exceptional investment opportunity presents a fee-simple ownership of a single-tenant Walgreens retail property located at 1301 1st St S, Willmar, MN 56201. The 14,490 square foot building, constructed in 2009, sits on a 1.53-acre lot at a high-traffic intersection. The property boasts a 25-year absolute NNN lease with Walgreens Boots Alliance, commencing March 1, 2009, and expiring February 28, 2034, leaving approximately 9.3 years remaining. Walgreens, a credit-rated tenant, is responsible for all property expenses, making this a truly passive investment. The current annual net operating income (NOI) is $433,000, resulting in a 6.25% cap rate and a price per square foot of $478.12. The asking price is $6,928,000. The lease includes 50, 1-year lease options. An attractive assumable CMBS loan with a 4.42% interest rate and approximately 7 years remaining is available, offering significant potential for a strong cash-on-cash return. The property benefits from excellent visibility and accessibility due to its location on prominent thoroughfares in Willmar, a thriving business hub in Kandiyohi County, Minnesota. With limited competition from other Walgreens locations, this asset offers a stable and secure investment opportunity in a resilient sector. The property's location within a growing business community and its essential nature as a drugstore further enhance its long-term value.