Speedway (Dark)

1435 Division Street, Waite Park, MN 56387

$2,426,700

Cap Rate 6.00%

Views: 20 DOM: 29 Updated: 08.21.24 Posted: 08.21.24 Status: Active 08.21.24

Summary

Price $2,426,700	Built/Renov 1994	Tenant Speedway (Dark)
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 5,743	Lease Start 03-25-2024	#Units 3,900
Price/SF $422.55	Expiration 03-26-2037	Tenant Type Convenience/Gas
NOI $145,601	R. Term 12.6	Ownership Fee Simple
Rent/SF $25.35	Increases 0.0%/0/yrs	Pop 5Mi 102,964
Lot/AC 1.29	Options 0/0yrs	AHHI 5Mi $56,311

Lease Highlights

7-Eleven/Speedway has vacated the property & continues to pay rent
There are 12+ years remaining on a NNN lease with annual CPI increases | Minimum of 1% and maximum of 3%
Redevelopment opportunity
Ability to receive additional rent by leasing 2,000 square foot apartment

Location Description

Speedway St. Cloud is strategically located at the signalized, hard corner intersection of Division Street and 15th Avenue, with access to a combined daily traffic count of 23,800 vehicles. The property is surrounded by well-known national tenants, including The Home Depot, Menards, Dick’s Sporting Goods, Fresh Thyme, Starbucks, and more. Additionally, it is in close proximity to Crossroads...

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Absolute NNN
Accelerated depreciation
Traded and rated company
Investment grade tenant

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Links

Speedway Wikipedia Speedway Wikipedia Waite Park, Minnesota Zip Code 56387 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Speedway
Guarantor:Corp T and Rated
Company:Seven & I Holdings Co., Ltd
# Units:3,900
Tenant S&P: A
Moody’s: A2
Stock: OTCMKTS: SVNDY

About Tenant

Speedway is an American convenience store and gas station chain with locations primarily in the Midwest and the East Coast regions of the United States. Founded in 1952 as Speedway 79, and as of...

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Listing Broker

Deb Vannelli

Upland Real Estate Group, Inc.

Contact

66 Listings
4942 Views
10 Sold

Amanda Leathers

Upland Real Estate Group, Inc.

Contact

66 Listings
4942 Views
10 Sold

Deb Vannelli

Deborah Vannelli began her commercial real estate career over twenty-five years ago. Today, Deb is the Director of Net Lease Sales in the Minneapolis-based Upland Real Estate Group, Inc., and she has led her team to complete in excess of 900 net lease sales transactions, which have generated over $2.8 billion. Deb specializes in net lease investment sales on a national scale, representing buyers, sellers, and tenants on the sale or purchase of single and multi-tenant, net-leased investment p

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Amanda Leathers

Amanda Leathers has over sixteen years of experience working in net lease sales with a highly motivated and successful team. As an Investment Sales Associate, she has contributed in the completion of over 900 transactions, totaling in excess of $2.8 billion in investment sales nationally. Amanda attended St. Cloud State University, graduating with a Bachelor of Science in Real Estate from the Herberger Business School. Most of her professional career has been at Upland, giving her a unique o

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Keith Sturm

Upland Real Estate Group, Inc.

Contact

66 Listings
4942 Views
10 Sold

Keith Sturm

With over 25 years of experience in commercial real estate, Keith Sturm is the Principal and CEO of Upland Real Estate Group, Inc, which he founded in 1995. Under his leadership, Upland has been consistently recognized as one of the top commercial real estate brokerage firms by the Minneapolis/St. Paul Business Journal. Keith has also been awarded the “Power Broker” in four out of five years since 2010, as a Top Brokerage Firm in Sales Transactions by Real Estate Forum and CoStar. Keith has man

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