116 Monroe AveOrtonville, MN 56278

For Sale
$1,489,240

Ortonville, MN: Net Lease, High Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a fee-simple interest in a Family Dollar store located at 116 Monroe Ave, Ortonville, Minnesota, 56278. The property boasts a newly renovated, 11,628 square foot freestanding building situated on a 0.66-acre lot. A brand new, 10-year net lease with a 7.25% cap rate provides a passive income stream with limited landlord responsibilities. The lease commenced August 1st, 2024, and includes five 5-year renewal options, with rent bumps ranging from 4.5% to 5.5% depending on the option exercised. The property's strong location in Ortonville, near major highway systems, ensures high visibility and accessibility. Built in 1958 and fully renovated in 2024, this single-tenant building offers 100% occupancy and a substantial net operating income (NOI) of $107,970. The asking price is $1,489,240, translating to a price per square foot of $128.07. The property's APN is 22-0247-000. This is a prime investment opportunity for those seeking a stable, long-term, high-yield retail asset. The lease expiration date is July 31st, 2034.

Highlights

  • Brand new construction.
  • Long-term net lease in place.
  • 2024 renovations completed.
  • Investment-grade parent company with a best-in-class tenant.
  • Excellent Ortonville retail corridor location.
  • Convenient access to major highway systems.

Property Details for 116 Monroe Ave

Property type
Other retail properties, Individual retail properties
Square Feet
11,628 SF
Year Built/Renovated
1958/2024
Buildings
1
Lot Size (sq. ft)
28,750 SF

Location Insight

City
Ortonville
County
Big Stone
State
Minnesota
Latitude
45.3046922
Longitude
-96.4459002
116 Monroe Ave, Ortonville, Minnesota

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116 Monroe Ave
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