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Auto Service - Gas-Conv

Holiday Stationstores & Burger King

210 S 27th Ave W, Duluth, MN 55806

Listing Price: $3,900,000

Cap Rate
7.48%
Tenant Name
Holiday Stationstores
Years Remaining On Lease
4.4
Guarantor
Corporate Guarantee
Rentable SF
6,588
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$46.12

Investment Overview

Marcus & Millichap is pleased to present for purchase this multi-tenant property located at 210 S. 27th Avenue W. in Duluth, Minnesota. The property is fully occupied by Burger King, Holiday Superstores, and Thompson’s Service. Burger King has over two years remaining on a triple-net lease and three, five-year renewal options. Burger King has reported consistently strong store sales. Holiday Station Stores recently extended their triple-net lease to 2025 and have three, five-year renewal options remaining with seven and a half percent rental increases in each. Thompson’s Service has 10 years remaining on a recently renewed 10-year triple-net lease. The property is located at a four-way intersection and sees traffic counts of over 16,634 vehicles per day. The site is situated just off of I-35, a major thoroughfare out of Minnesota. The property is adjacent to Motel 6 and directly across from Salvation Army. The multi-tenant property is less than 10 minutes from Downtown Duluth and The University of Minnesota Duluth (UMD), home to approximately over 10,200 students. The area has strong demographics with over 87,000 residents living within a five-mile radius. Duluth is a major port city in the U.S. state of Minnesota and the county seat of Saint Louis County. Duluth is the 4th largest city in Minnesota and the 2nd largest city on Lake Superior. Situated on the north shore of Lake Superior at the westernmost point of the Great Lakes, Duluth is accessible to oceangoing vessels from the Atlantic Ocean. A tourist destination for the Midwest, Duluth features the United States’ only all-freshwater aquarium, the Great Lakes Aquarium; the Aerial Lift Bridge, which spans the Duluth Ship Canal into the Duluth–Superior Harbor; and Minnesota Point (known locally as Park Point), the world’s longest freshwater baymouth bar, spanning six miles. The city is also the starting point for vehicle trips along Minnesota’s North Shore.

Investment Highlights

  • Fully Occupied Multi-Tenant Property | All Tenants Operate on Triple-Net Leases
  • Fresh Lease Renewals for Holiday and Thompson's Auto Service Just Renewed Lease, Showing Long-Term Commitment to the Site
  • Burger King and Holiday Have Occupied This Location for Over 20 Years
  • Very Strong Burger King Sales
  • Burger King & Holiday Station Stores Have Options to Renew
  • Situated at a Four-Way Intersection Seeing Traffic Counts Exceeding 16,634 Vehicles per Day
  • 10 Minutes from Downtown Duluth
  • Located Near The University of Minnesota Duluth with 10,858 Students (as of 2021) and College of St. Scholastica with 3,700 Students (as of 2021)

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) MN: 40583288

    Minnesota

Auto Service - Gas-Conv

Holiday Stationstores & Burger King

Listing Price: $3,900,000

Cap Rate
7.48%
Tenant Name
Holiday Stationstores
Years Remaining On Lease
4.4
Guarantor
Corporate Guarantee
Rentable SF
6,588
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$46.12

Investment Highlights

  • Fully Occupied Multi-Tenant Property | All Tenants Operate on Triple-Net Leases
  • Fresh Lease Renewals for Holiday and Thompson's Auto Service Just Renewed Lease, Showing Long-Term Commitment to the Site
  • Burger King and Holiday Have Occupied This Location for Over 20 Years
  • Very Strong Burger King Sales
  • Burger King & Holiday Station Stores Have Options to Renew
  • Situated at a Four-Way Intersection Seeing Traffic Counts Exceeding 16,634 Vehicles per Day
  • 10 Minutes from Downtown Duluth
  • Located Near The University of Minnesota Duluth with 10,858 Students (as of 2021) and College of St. Scholastica with 3,700 Students (as of 2021)

Investment Overview

Marcus & Millichap is pleased to present for purchase this multi-tenant property located at 210 S. 27th Avenue W. in Duluth, Minnesota. The property is fully occupied by Burger King, Holiday Superstores, and Thompson’s Service. Burger King has over two years remaining on a triple-net lease and three, five-year renewal options. Burger King has reported consistently strong store sales. Holiday Station Stores recently extended their triple-net lease to 2025 and have three, five-year renewal options remaining with seven and a half percent rental increases in each. Thompson’s Service has 10 years remaining on a recently renewed 10-year triple-net lease. The property is located at a four-way intersection and sees traffic counts of over 16,634 vehicles per day. The site is situated just off of I-35, a major thoroughfare out of Minnesota. The property is adjacent to Motel 6 and directly across from Salvation Army. The multi-tenant property is less than 10 minutes from Downtown Duluth and The University of Minnesota Duluth (UMD), home to approximately over 10,200 students. The area has strong demographics with over 87,000 residents living within a five-mile radius. Duluth is a major port city in the U.S. state of Minnesota and the county seat of Saint Louis County. Duluth is the 4th largest city in Minnesota and the 2nd largest city on Lake Superior. Situated on the north shore of Lake Superior at the westernmost point of the Great Lakes, Duluth is accessible to oceangoing vessels from the Atlantic Ocean. A tourist destination for the Midwest, Duluth features the United States’ only all-freshwater aquarium, the Great Lakes Aquarium; the Aerial Lift Bridge, which spans the Duluth Ship Canal into the Duluth–Superior Harbor; and Minnesota Point (known locally as Park Point), the world’s longest freshwater baymouth bar, spanning six miles. The city is also the starting point for vehicle trips along Minnesota’s North Shore.

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): MN: 40583288

    Minnesota

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