940 Evergreen Sq SW
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940 Evergreen Sq SW
1,200 SF Retail Building Pine City, MN 55063 £1,251,920 (£1,043/SF) 5.68% Net Initial Yield
Executive Summary
• New 15 Year Absolute NNN Lease with Four 5-Year Options to Renew
• 10% Rent Increases Every 5 Years Throughout the Initial Term and in Each of the Option Periods
• Lease Guaranteed by Montfort Companies Parent Entity - Montfort is the Largest 7-Eleven
Franchisee and Growing C-Store Operator Under the BP Brand, Which Has a Strong Presence in Minnesota
• Convenience Stores Have Been Designated an "Essential Business" by the Department of Homeland Security
• C-Stores Generate "Daily Needs" Business and Have a Stable Consumer Base
• Fuel Profit Margins Have Increased Year Over Year
• Newer Construction Asset and Larger Format, 1,200 Square Foot Store with 6 Multiple Pump Dispensers (12 Fueling Pumps)
• Strategically Positioned at the Entrance to Walmart Supercenter with a Direct, Signalized Entrance
• The Only Walmart Within 30 Minutes
• Located Off Interstate 35 with Over 30,000 Vehicles Per Day
•Stretches from Canada to Mexico and is One of the Busiest Highways in the Nation
• Less Than Half a Mile from Pine Technical & Community College with More Than 700 Students Enrolled
• Situated 1 Mile from Pine City High School & Elementary Schools with over 1,600 Students & Faculty
• 10% Rent Increases Every 5 Years Throughout the Initial Term and in Each of the Option Periods
• Lease Guaranteed by Montfort Companies Parent Entity - Montfort is the Largest 7-Eleven
Franchisee and Growing C-Store Operator Under the BP Brand, Which Has a Strong Presence in Minnesota
• Convenience Stores Have Been Designated an "Essential Business" by the Department of Homeland Security
• C-Stores Generate "Daily Needs" Business and Have a Stable Consumer Base
• Fuel Profit Margins Have Increased Year Over Year
• Newer Construction Asset and Larger Format, 1,200 Square Foot Store with 6 Multiple Pump Dispensers (12 Fueling Pumps)
• Strategically Positioned at the Entrance to Walmart Supercenter with a Direct, Signalized Entrance
• The Only Walmart Within 30 Minutes
• Located Off Interstate 35 with Over 30,000 Vehicles Per Day
•Stretches from Canada to Mexico and is One of the Busiest Highways in the Nation
• Less Than Half a Mile from Pine Technical & Community College with More Than 700 Students Enrolled
• Situated 1 Mile from Pine City High School & Elementary Schools with over 1,600 Students & Faculty
Property Facts
Sale Type
Investment NNN
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
1,200 SF
Building Class
B
Year Built
2015
Price
£1,251,920
Price Per SF
£1,043
Net Initial Yield
5.68%
NOI
£71,128
Tenancy
Single
Number of Floors
1
Building FAR
0.04
Lot Size
0.73 AC
Opportunity Zone
Yes
Zoning
C - Commercial
Parking
21 Spaces (17.5 Spaces per 1,000 SF Leased)
Frontage
164 ft on Johnson Ave SW
Amenities
- 24 Hour Access
- Signage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 042.6191.001 | Improvements Assessment | £301,478 |
| Land Assessment | £82,392 | Total Assessment | £383,870 |
PROPERTY TAXES
Parcel Number
042.6191.001
Land Assessment
£82,392
Improvements Assessment
£301,478
Total Assessment
£383,870
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940 Evergreen Sq SW
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