Property profile

85 Broadway E St Akeley, MN 56433

OFF-MARKET
Grocery and convenience stores
Property ID
US46-1996969
2,632 SF 0.14 ac lot Built 1983
Entity Owned Free & Clear
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Property summary

AI-generated overview

This exceptional retail investment opportunity presents a fee-simple, 9,100 square foot convenience store in Akeley, Minnesota. Built in 2016, the property boasts a 100% occupancy rate with a strong, credit-rated corporate tenant (Dollar General) under an absolute NNN lease with zero landlord responsibilities. The lease, commencing July 14, 2016, has a remaining term of 6.8 years, with five, 5-year renewal options, each including a 10% rent increase. The current annual net operating income (NOI) is $86,431, yielding an attractive 7.50% capitalization rate. Situated on a 1.12-acre lot at 85 Broadway St W, Akeley, MN 56433, this property benefits from its location near Eleventh Crow Wing Lake, a popular fishing destination. The property's tenant, Dollar General, is a publicly traded Fortune 500 company with a significant market presence and a proven track record. This investment offers a compelling combination of strong tenant credit, a favorable lease structure, and a high cap rate in a desirable location. The property is well-suited for investors seeking a stable, long-term income stream with significant upside potential. The property is a single-tenant building with a total of 9,100 square feet.

Property profile

Verified
Property type Grocery and convenience stores
Use group CONVENIENCE STORE
Year built 1983
Total area 2,632 SF
Lot 0.14 ac (6,098 SF)
APN 29.37.05300
UPID US46-1996969

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Gas Station
  • Discount Store
  • Bank Credit Union
  • Postal Service Courier Service
  • Restaurant

Location

85 Broadway E St Akeley, MN 56433
Akeley metro Census 70400
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$255k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$255k

Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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