1315 Old W Main St Red Wing, MN 55066-2160
Property profile & analytics
1315 Old W Main St Red Wing, MN 55066-2160
- Turn key restaurants
- 5,850 SF
Property ID
US46-1399945
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Starbucks / Cafe & Coffee Shop
- Bob's BBQ & Catering / Take-out & Catering / Catering Service
Property Details for 1315 Old W Main St
- Year built
- 1984
- Property size
- 5,850 SF
- Property type
- Turn key restaurants
- APN
- 55.535.0280
- APU
- 555350280
Description
This exceptional investment opportunity presents a newly constructed, 5,533-square-foot retail building in Red Wing, Minnesota. The property boasts a strong anchor tenant, Starbucks, operating under a Net Lease with approximately 10 years remaining on their lease term, featuring built-in rent bumps. The building sits on a 0.73-acre lot and offers ample parking with convenient access at a signalized intersection. The property currently generates a substantial Net Operating Income (NOI) of $207,106, resulting in an attractive 8.00% capitalization rate. The asking price is $2,590,000. The property is a multi-tenant building with one additional unit of approximately 2,400 square feet currently available, with significant interest from potential tenants. A one-year master lease with the current owner is available at the closing of escrow. The property benefits from its strategic location, enjoying high traffic counts on Main Street (4,255 VPD), Highway 61 (19,973 VPD), and proximity to Highway 63 (12,482 VPD). The area features a thriving community with an average household income exceeding $86,000 within a five-mile radius. Nearby national retailers include Target, T.J. Maxx, and many others, further enhancing the property's desirability. The property's location is also convenient to Downtown Saint Paul (47 miles) and the Minneapolis-Saint Paul International Airport (49 miles), serving over 34 million passengers annually. Numerous parks and recreational facilities are also within easy reach. Starbucks, a tenant with a stable credit rating (BBB+ from S&P and Baa1 from Moody's), anchors this value-add investment opportunity. The property is a single-story building constructed in 2023.
Value Estimations
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CAP approach
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Location Insight
- Map
- Local Demand
- City
- Red Wing
- County
- Goodhue
- State
- Minnesota
- Longitude
- -92.5463
- Latitude
- 44.5623
- CBSA code
- 39860
- CBSA name
- RED WING, MN MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$13,854
$202,300
$293,800
$496,100
-
$202,300
$293,800
$496,100
