Listed by Friedman Real Estate
$600,000
Auction Sale: Harbor Freight and Five Below - Hutchinson, MN
Details
Property Type Retail
Square Footage 25,000
Net Rentable (SqFt) 25,000
NOI $236,017
Occupancy 100%
Tenancy Multi
Brand/Tenant Harbor Freight, Five Below
Lease Type NNN
Year Built 2009
Year Renovated 2022
Acreage 2.130
Tenant Credit Credit Rated
Ground Lease No
Auction Sale: Harbor Freight and Five Below - Hutchinson, MN
Investment highlights
- Harbor Freight, Five Below, and Verizon Cell Tower Co-Anchored Retail Property located in Hutchinson, Minnesota, a growing community within the Minneapolis–St. Paul CSA
- Shadow-Anchored by Target and Walmart driving consistent regional traffic and consumer demand
- Part of a Larger Retail Center featuring national retailers including Target, Aldi, PetSmart, and Ashley Furniture
- Separate Parcel Ownership Structure with ownership responsible only for expenses related to its parcel, with no obligations or reimbursements under any operating or easement agreements
- Newer 10-Year Corporate Leases with scheduled rent increases and multiple renewal options
- Primary Retail Hub for the Region as Hutchinson is the largest city in McLeod County, located approximately 60 miles west of the Twin Cities
- Strong Market Fundamentals with the Hutchinson retail market nearly fully occupied, with approximately 1.0% vacancy according to CoStar, supporting long-term tenant demand
Listing Contacts
Listed by Friedman Real Estate
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$236,017.00
$19,668.08/mo
Valuation Metrics
0
DSCR
39.34%
Cap Rate
39.34%
ROI
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