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Shopko – Austin, MN

$ 8,500,000
1209 18th Ave NW,
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Shopko – Austin, MN For Sale @ $8,500,000 (7.5% cap rate with NOI of $637,188). Leasable area of 90,461 Square Feet

  • Absolute NNN lease – zero landlord responsibilities
  • Fifteen (15) years remaining on the lease term, providing long-term passive income and security
  • Guaranteed by Specialty Retail Shops Holding Corp. (“SRSHC”)
  • Annual contractual rent increases provide a strong hedge against inflation
  • YOY sales growth for the past three years
  • Shadow anchored by Hy-Vee grocery store, Anytime Fitness, Younkers, and CineMagic 7 movie theatres – daily needs and entertainment tenants increase consumer draw to the shopping center
  • The property benefits from the redevelopment of the Oak Park Mall – including a brand new 60,000 – 90,000 Hy-Vee grocery store, a redesigned smaller mall that will house the movie theater and AnyTime Fitness, and a remodeled stand-alone Younkers store
  • Convenient accessibility and signage off of I-90, the main interstate arterial through the city
  • Average household income of nearly $60,000 in a 5-mile radius
  • Close proximity to the corporate headquarters of Austin’s largest employer, Hormel Foods Corporation, with more than 400 employees as well as the 80-bed Mayo Clinic Health System
  • In the center of Austin’s retail corridor with strong neighboring tenants in the trade area including: Walmart Supercenter, Aldi, Sears Hometown Store, Dollar Tree, Jo-Ann Fabric and Craft Stores, Staples, Hibbett Sports, AutoZone, O’Reilly Auto Parts and more.

Check out the Offering Memorandum for additional information.

Matthews Property Website: http://www.matthews.com/properties/stnl-shopko-austin-mn/

Documents
Address: 1209 18th Ave NW
City:
State/County:
Zip: 55912
Country: United States
Property Id : 6314
Price: $ 8,500,000
Property Size: 9,461 ft2
Property Type: Shopping Center
Price/SF: 94
Current Tenant(s): Shopko
Tenancy Description: Shopko
Occupancy: 100
NOI: 637188

RE/MAX Results Commercial Group

Mark Hulsey - Managing Broker
651-256-7404
info@resultscommercial.com

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