www.crexi.com - The Commercial Real Estate Exchange
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
33460103
33460104

307 North State Street, Fairmont, MN 56031

JF
CA 02100489
Marcus & Millichap - Los Angeles
TB
CA 02116455
Marcus & Millichap - Los Angeles
RN
01324570
Marcus & Millichap - Los Angeles
Listed by Marcus & Millichap - Los Angeles
$1,545,776
5 days on market
Updated 4 days ago
Opportunity zone

Marathon Gas Station | Absolute‑NNN Lease

Details
Property Type Retail
Sub Type Convenience Store, Gas Station (+1)
Square Footage 4,272
Net Rentable (SqFt) 4,272
Cap Rate 7.5%
NOI $115,933
Occupancy 100%
Tenancy Single
Brand/Tenant Shell, 76 Gas (+4)
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 08/30/2045
Remaining Term 19.2
Rent Bumps Yes
Lease Options 4 x 5 Years
Year Built 1963
Year Renovated 2026
Acreage 0.860
Lease Commencement 08/25/2025
Ground Lease No

Fee‑Simple | 2% Annual Rent Increases | 39‑Unit Guaranty | High‑Traffic N State St Corridor

Marketing description

Marcus & Millichap is pleased to offer a Marathon‑branded gas station and Quick Mart located along North State Street, one of Fairmont’s highest‑traffic commercial corridors. The property is secured by a long‑term absolute‑NNN lease with ±19 years remaining, providing investors with stable, passive income backed by KeyStone Retail and Affiliates, a seasoned 39‑unit operator with strong performance across multiple markets.

The site benefits from excellent visibility, ±11,687 VPD, and immediate access to Interstate 90, positioning it to capture both local residents and regional commuter traffic. Located within Fairmont’s core retail node, the property is surrounded by national brands including Hy‑Vee, Walgreens, Dollar Tree, Dunham’s, Burger King, O’Reilly Auto Parts, Subway, and Tractor Supply Co. The tenant benefits from a proven operating location within a stable regional economy supported by healthcare, agriculture, manufacturing, and Fairmont’s chain of interconnected lakes. With 2% annual rent increases, four 5‑year renewal options, and potential eligibility for 100% bonus depreciation, this asset offers a compelling long‑term net‑lease investment.

Investment highlights

  • ±19 Years Remaining on Absolute-NNN Lease
  • 2% Annual Rent Increases During Initial Lease Term and Options
  • Potential for 100% Bonus Depreciation (Fee-Simple Asset)
  • Large Scale Established & Successful Operator (39-Unit Guaranty)
  • Clean Environmental Reports And Recent Survey On File
  • Established Marathon Gas Station & Quick Mart
  • Located Within Fairmont’s Main Commercial Hub Surrounded By National Brands Including Hy‑Vee, Walgreens, Dollar Tree, Dunham’s, Burger King, O’Reilly Auto Parts, Subway, And Tractor Supply Co.

Listing Contacts

JF
CA 02100489
Marcus & Millichap - Los Angeles
TB
CA 02116455
Marcus & Millichap - Los Angeles
RN
01324570
Marcus & Millichap - Los Angeles
Listed by Marcus & Millichap - Los Angeles

Valuation Calculator

Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
$
$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$115,933.00
$9,661.08/mo

Valuation Metrics

0
DSCR
7.5%
Cap Rate
7.5%
ROI

Map

Broker Selected Comps View More Comps

Property History

Intelligence Badge

Similar Properties

View All

Additional Information

Name
Jon Ruzicka
License
40583288
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
Is there information that looks off?
For assistance, reach out to our support team at [email protected] or call 888.273.0423 . For press inquiries, contact [email protected]
Equal Housing Opportunity
5510 Lincoln Blvd #400, Los Angeles, CA 90094Commercial Real Estate Exchange, Inc.Crexi Technologies, LLCCXTechnology, LLC
© 2026 Commercial Real Estate Exchange, Inc. All Rights Reserved. DRE #02086591