940 Evergreen SW Sq Pine City, MN 55063-2001
- Commercial real estate
- 1,215 SF
- 0.72 lot acres
Sep 17, 2021
Current Use by Public Records
- Commercial real estate
Property Details for 940 Evergreen SW Sq
- Year built
- 2015
- Lot size
- 0.72 lot acres
- Property size
- 1,215 SF
- Property type
- Commercial real estate
- APN
- 42.6191.001
- APU
- 426191001
Description
This exceptional investment opportunity presents a 1,200 sq ft BP Gas Station in Pine City, MN, on a 0.73-acre lot. The property boasts a 15-year absolute NNN ground lease (expiring 06/30/2035) with a strong franchisee tenant, featuring 10% rent bumps every five years. Built in 2015, this single-story building includes 12 gas pumps and 21 parking spaces. The property enjoys a prime location at the entrance to a high-traffic Walmart Supercenter, near Interstate 35, and benefits from excellent visibility and accessibility. With a current NOI of $90,904 and a 5.68% cap rate, this asset offers a compelling return on investment. The lease commenced June 16, 2020, and includes four, five-year renewal options. The property is zoned commercial and has a permitted use as a gas station. The asking price is $1,600,000, translating to $1,333.33 per square foot. This is a 100% occupied, essential business, providing a stable and predictable income stream. The property's proximity to a major highway, Walmart, and educational institutions further enhances its long-term value and potential for growth. This is a rare opportunity to acquire a well-positioned, high-performing gas station with a secure, long-term lease.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,665,000
- ML approach
- $1,635,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Pine City
- County
- Pine
- State
- Minnesota
- Longitude
- -92.9794
- Latitude
- 45.8179
