2 Tenant Pad/Across from Target & Menards 2560 1st St S

MINNESOTA BROKER OF RECORD - TED J. GONSIOR - License No. 20536364
Faris Lee Investments is pleased to present the unique opportunity to acquire the fee simple interest (Land & Building) in a freestanding low price per square foot pad building ($273 psf) across from a Target that boasts over 1 million visitors a year (Placer.ai). The investment features a two tenant NNN pad building leased to national credit tenants: Spectrum and Home Choice. The investment includes fixed rental increases every five years, with a growing income stream through the initial term and option periods offering long-term security for the investor. The property sits on a 1.53-acre parcel which includes ample parking with 47 spaces. Its prime location on the major arterial road of 1st St S ensures high visibility and accessibility, making it a highly attractive investment.
Spectrum, the trade name of Charter Communications, is a leading broadband connectivity company with over 32 million customers across 41 states. The company offers a full range of state-of-the-art residential and business services, including internet, TV, mobile, and voice. With a market cap of $41.79 billion, Spectrum’s financial strength and stability ensure long-term security for investors.
Home Choice, a wholly owned subsidiary of Rent-A-Center, provides customers with convenient access to brand-name home merchandise and flexible payment options. Home Choice operates under the umbrella of Rent- A-Center, a publicly held company with over 3,000 stores across the United States, Canada, and Puerto Rico.
The subject property is part of a high-traffic retail corridor, along 1st St S with over 15,898 VPD and located near HWY 71, providing easy access and visibility to a major arterial for the surrounding area. The property benefits from strong trade area demographics with an average household income of $80,980 within a 10-mile radius. Nearby national retailers include Target, Walmart Supercenter, The Home Depot, TJ Maxx, Kohl’s, Hobby Lobby, Menards Home Improvement, Slumberland, and PetSmart, contributing to the area’s robust commercial environment and ensuring consistent customer traffic. Additionally, the trade area includes significant industrial properties and a growing residential community, enhancing the property’s strategic location. The expanding presence of major employers like FedEx, Jennie-O Turkey Store, and Willmar Poultry Company underscores the area’s economic growth. With new residential, economic, and industrial developments currently underway, the customer base is expected to continue increasing, making this location highly desirable for investors.