Investment Overview

Marcus & Millichap is pleased to offer Red Wing Mall for sale, located at 160 Tyler Road in Red Wing, Minnesota. This listing offers the rare opportunity to acquire a regional retail center that offers both great stability and strong upside potential. Red Wing Mall is 100 percent leased and anchored by strong national brands. Aldi, TJ Maxx, and Five Below which lead a diverse tenant lineup, with roughly 80 percent of the property’s income coming from national or regional credit tenants. Over $7 Million has been spent on capital improvements between roof and tenant improvements since 2017. The property is also shadow-anchored by Target and is just blocks from Walmart Supercenter, which adds to the consistent foot traffic and retail activity in the area. The majority of the leases are triple-net and Aldi's & TJ Maxx have rent increases schedule for 2027, with a combined weighted average lease term (WALT) remaining for the entire center of approximately 4.6. The property sits in a prime location between several major markets—including Minneapolis–St. Paul, Rochester, La Crosse, and Eau Claire—making it a key regional shopping destination featuring 1.2 Million visitors in the last twelve months per Placer.ai representing a 9.2% year over year increase and a 17.6% increase in the last three years. The surrounding area has strong demographics with an average household income exceeding $105,000 within ten miles. There are also multiple ways to achieve upside. Opportunities exist to replace multiple tenants that have rents substantially below market, sell off strip centers individually, or potentially develop new buildings, making this not just a stable asset, but one with room to substantially increase net operating income. Two of the tenants totaling nearly 40 percent of the center have rents substantially below market, providing a clear path to potential substantial upside. Inquire with broker for more details. With its credit-grade tenant base, high-traffic location, and multiple value-add paths to growth, the Red Wing Mall stands out as a premium retail investment opportunity for the savvy investor.