600 County RdBlaine, MN 55434

For Sale
$3,079,375

High-Yield Drugstore, 14,895 SF

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a 14,895-square-foot retail property currently occupied by a Walgreens in Blaine, Minnesota. Located at 600 County Road 10, 55434, this well-established pharmacy boasts a strong financial performance, reflected in its asking price of $3,079,375 ($206.74/sq ft). The building, constructed in 2000 and zoned 3A-Commercial/Industrial, comprises six units. The lease agreement includes a percentage rent formula and a Modified NNN structure. Tenant responsibilities encompass real estate taxes, building insurance, liability insurance, operating expenses, parking area maintenance (excluding capital expenses), and HVAC, plate glass, and interior maintenance and replacement. Landlord responsibilities include building exterior maintenance, parking area capital expenses, and structural components, including the roof. A key feature of the lease is the tenant's option to terminate the lease with six months' notice after the initial 20-year term, and every five years thereafter. The next potential termination date is October 31, 2025. This presents a compelling opportunity for investors seeking a stable, high-performing asset in a desirable location within Anoka County. The property's strong tenant and favorable lease terms make it an attractive addition to any portfolio.

Highlights

  • $3,079,375 asking price for a 14,895 SF retail property.
  • Located at 600 County Road 10, Blaine, MN 55434.
  • Property type: Retail, Subtype: Pharmacy/Drug Store (Walgreens).
  • Six (6) units, built in 2000, with 3A-Commercial/Industrial zoning.
  • Price per square foot: $206.74.

Property Details for 600 County Rd

Property type
Other retail properties, Individual retail properties
Square Feet
14,895 SF
Year Built
2000
Units
6

Location Insight

City
Blaine
County
Anoka
State
Minnesota
Latitude
45.1265981
Longitude
-93.2552674
600 County Rd, Blaine, Minnesota

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600 County Rd
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