1435 Division St Waite Park, MN 56387

3,738 SF 1.33 ac lot Built 1994

Entity Owned 5-yr Hold Free & Clear

Property ID

US46-1435109

$2,450,000 3,738 SF

1435 Division St, Waite Park, MN 56387
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This exceptional retail investment opportunity presents a 5,743 square foot freestanding convenience store and gas station, formerly occupied by 7-Eleven/Speedway, located at 1435 Division St, Waite Park, MN 56387. The property sits on a 1.285-acre lot and boasts a strong location with over 23,800 vehicles passing daily. The 12.4-year remaining lease (expiring 03/26/2037) is a triple-net (NNN) lease with annual CPI increases, providing a stable income stream. The property features eight fuel dispensers and a car wash, adding to its revenue potential. The asking price is $2,426,700, representing a 6.00% cap rate with a current NOI of $145,601. Built in 1994, this property offers redevelopment potential, including the possibility of leasing a 1,500 square foot apartment for additional income. The site benefits from its proximity to major retailers such as Kohl's, Aldi, Home Depot, Dick's Sporting Goods, and Crossroads Center mall. Waite Park's strong demographics, including a population exceeding 103,380 within a 5-mile radius and an average household income over $82,805, further enhance the investment's appeal. The location is also convenient to St. Cloud, home to St. Cloud State University, St. Cloud Technical College, and St. Cloud Hospital, contributing to a robust consumer base. 7-Eleven, a highly rated and financially stable company, acquired Speedway in 2021, adding to the investment's security.