22129 321St AveAitkin, MN 56431

For Sale
$2,279,459

Aitkin, MN Retail Store - High ROI

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a 10,566 square foot Dollar General storefront in Aitkin, Minnesota, situated on a 2.65-acre lot. The property boasts a strong 6.25% cap rate, generating a net operating income (NOI) of $142,496. Secured by a 15.1-year net lease (NNN) with Dollar General Corporation, a highly rated S&P BBB company, the lease commenced September 11, 2024, and expires September 30, 2039, leaving a substantial 14.9 years remaining. The lease includes five 5-year renewal options with a 5% rent increase every five years. This strategically located store benefits from its proximity to Mille Lacs Lake, a popular tourist destination, and serves a significant population with limited nearby grocery options. The average household income within a 10-mile radius is $84,673, indicating strong consumer spending power. The property's location along State Highway 47 ensures high visibility and accessibility. This is a rare opportunity to acquire a stable, high-performing retail asset backed by a nationally recognized brand with a long-term lease and significant growth potential. The building was constructed in 2024. The property is approximately two hours north of Minneapolis/St. Paul. This investment offers a compelling combination of strong cash flow, long-term stability, and significant upside potential.

Highlights

  • Dollar General is on a 15-year NNN lease with 5% rent increases every 5 years, backed by a corporate guaranty.
  • Investment-grade tenant Dollar General (S&P BBB rating) operates over 20,000 stores.
  • Property located near Mille Lacs Lake, a major Minnesota tourist destination.
  • High concentration of resorts in the immediate vicinity.
  • $84,673 average household income within a 10-mile radius.
  • Serves a significant seasonal population with limited grocery access.

Property Details for 22129 321St Ave

Property type
Other retail properties, Individual retail properties
Square Feet
10,566 SF
Year Built
2024
Lot Size (sq. ft)
115,434 SF

Location Insight

City
Aitkin
County
Aitkin
State
Minnesota
Latitude
46.335315
Longitude
-93.518153
22129 321St Ave, Aitkin, Minnesota

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22129 321St Ave
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