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Shopping Strip

Detroit Lakes Shopping Center

1659 US-10, Detroit Lakes, MN 56501

Listing Price: $4,073,000

Cap Rate
7.00%
Gross SF
25,710
Rentable SF
25,710
Price/Gross SF
$158.42
Lot Size
2.82 acres
Year Built
2003

Investment Overview

Detroit Lakes Shopping Center is a 25,710-square-foot retail center located in Detroit Lakes, Minnesota. The building is currently 100 percent occupied, and 84 percent of the leases are triple-net. Anchored by Dollar Tree, the center has a complementary mix of service-oriented tenants including the Minnesota State Lottery, Anytime Fitness, Detroit Lakes Tobacco & Vape Plus, Nail Spa DL, and Shoe Sensation. Constructed in 2003, the property is situated on a 2.82-acre parcel with ample paved parking. Detroit Lakes Shopping Center is located on U.S. Highway 10 at the signalized intersection with Airport Road. U.S. Highway 10 is one of the primary routes through the city of Detroit Lakes and has traffic counts of approximately 37,454 vehicles per day. The center is accessible from multiple ingress and egress points and includes pylon signage for additional exposure.

Investment Highlights

  • 25,710-Square-Foot, Multi-Tenant Retail Center | 100% Occupied | 84% of the GLA has Triple-Net Leases
  • Shadow-Anchored by a Walmart Supercenter | Major Traffic Driver to the Area with an Estimated 1.7 Million Visitors Annually
  • Anchored by Dollar Tree | Publicly Traded Company (NASDAQ: DLTR)
  • Located on U.S. Highway 10, a Primary Route Through the City of Detroit Lakes | Traffic Counts Exceed 37,454 Vehicles per Day
  • Detroit Lakes Serves as a Regional Hub and is a Popular Tourist Destination | Located 205 Miles Southeast of the Major Metropolitan Area of Minneapolis-Saint Paul

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) MN: 40583288

    Minnesota

Shopping Strip

Detroit Lakes Shopping Center

Listing Price: $4,073,000

Cap Rate
7.00%
Gross SF
25,710
Rentable SF
25,710
Price/Gross SF
$158.42
Lot Size
2.82 acres
Year Built
2003

Investment Highlights

  • 25,710-Square-Foot, Multi-Tenant Retail Center | 100% Occupied | 84% of the GLA has Triple-Net Leases
  • Shadow-Anchored by a Walmart Supercenter | Major Traffic Driver to the Area with an Estimated 1.7 Million Visitors Annually
  • Anchored by Dollar Tree | Publicly Traded Company (NASDAQ: DLTR)
  • Located on U.S. Highway 10, a Primary Route Through the City of Detroit Lakes | Traffic Counts Exceed 37,454 Vehicles per Day
  • Detroit Lakes Serves as a Regional Hub and is a Popular Tourist Destination | Located 205 Miles Southeast of the Major Metropolitan Area of Minneapolis-Saint Paul

Investment Overview

Detroit Lakes Shopping Center is a 25,710-square-foot retail center located in Detroit Lakes, Minnesota. The building is currently 100 percent occupied, and 84 percent of the leases are triple-net. Anchored by Dollar Tree, the center has a complementary mix of service-oriented tenants including the Minnesota State Lottery, Anytime Fitness, Detroit Lakes Tobacco & Vape Plus, Nail Spa DL, and Shoe Sensation. Constructed in 2003, the property is situated on a 2.82-acre parcel with ample paved parking. Detroit Lakes Shopping Center is located on U.S. Highway 10 at the signalized intersection with Airport Road. U.S. Highway 10 is one of the primary routes through the city of Detroit Lakes and has traffic counts of approximately 37,454 vehicles per day. The center is accessible from multiple ingress and egress points and includes pylon signage for additional exposure.

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): MN: 40583288

    Minnesota

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