Listed by Rice Real Estate Services
$8,935,000
Cash Wise Foods | Coborn's Inc
Details
Property Type Retail
Sub Type Grocery Store, Storefront
Square Footage 88,355
Cap Rate 6.25%
NOI $558,411
Occupancy 100%
Tenancy Single
Brand/Tenant Coborn’s, Inc
Lease Type NNN
Lease Options 2 — 5 Year Options
Year Built 1984 & 1994
Year Renovated 2021
Acreage 9.500
Lease Commencement 12/31/1983
Ownership Leased
Retail | 6.25% CAP | 88,355 SqFt
Marketing description
Building consists of 88,355 SF situated on +/-9.5 acres. Originally constructed (55,000 SF) in 1984. Precast addition (33,355 SF) in 1994. Building is in excellent condition with major remodel completed 2021. Renovations include new HVAC system including all new RTU’s, parking lot, tenant FF&E and full interior remodel, total project in excess of $5.5M. Improvement list available upon request.
Rice Real Estate Services is pleased to present this single tenant net leased property for sale in Willmar, Minnesota.
Investment highlights
- Long term credit tenant with a diverse grocery | service model.
- Major renovations completed in 2021, in excess of $5.5M.
- Solid market presence and long term occupancy in the same location for nearly 30 years.
Listing Contacts
Listed by Rice Real Estate Services
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Loan Amount
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Annual Debt Service
$--
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Annual Cash Flow
$558,411.00
$46,534.25/mo
Valuation Metrics
0
DSCR
6.25%
Cap Rate
6.25%
ROI
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