1709 1st S St, Willmar, MN 56201-4488

This exceptional Class A retail investment opportunity presents a 6,500 square foot shopping center in Willmar, Minnesota, boasting a 7.16% cap rate and a pro-forma cap rate of 7.73%. The property, built in 2017 and renovated in 2023, features a single-story building situated on one acre of land at 1709 1st St S, Willmar, MN 56201. It is 100% occupied by two national credit tenants: Starbucks and Aspen Dental, providing strong and stable cash flow. The property benefits from a prime location on a high-traffic corridor, with frontage to 1st Street, connecting Highways 12 and 71/23. This location offers excellent visibility and accessibility, situated near other major retailers including Kohl's, Harbor Freight, Target, Cash Wise Foods, and Home Depot, as well as Willmar Middle School. The property includes a drive-thru, and recent improvements include a Starbucks drive-thru upgrade exceeding $100,000 in 2024 and a $110,000 tenant improvement to the center unit. The Net Operating Income (NOI) is $214,740, with a pro-forma NOI of $232,000. The asking price is $3,000,000, resulting in a price per square foot of $461.54. The property is zoned for commercial use and includes three units. A one-year leaseback to the buyer is offered, with average CAMs paid in a lump sum at closing. The property's APN is 95-923-8640. This is a 1031 exchange eligible property.