Retail

Goodwill - Mankato

2024 Adams St, Mankato, MN, 56001-6817, US

Goodwill - Mankato_Property for Sale

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Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in a single-tenant retail property located in Stillwater, MN within the Minneapolis-St. Paul MSA. The tenant, Goodwill Easter-Seals Minnesota, is a 501(c)3 nonprofit that offers job training and customized career support. The property is fully occupied with over 10 years remaining on the tenant's lease. This triple net investment presents a unique opportunity to obtain steady, reliable cash flows while having minimal management responsibilities with the net lease structure. 

Attributes

Asking Price
NZ$8,129,000
Building area gross
1,914 m²
Occupancy
100.00%
Year built
2012

Investment Highlights

SINGLE-TENANT NET LEASE WITH OVER 10 YEARS REMAINING

Goodwill recently renewed bringing the lease term to 10+years remaining. The lease obligates the tenant to pay for all expenses involving the property including reimbursement for capital expenditures

ADDITIONAL INCOME FROM PASS-THROUGH MANAGEMENT FEE

The lease obligates the tenant to reimburse for management fees equal to 4% of base revenue

RESPECTED BRAND WITH HISTORY OF SUCCESS

Goodwill Easter-Seals Minnesota has been serving the Minnesota community since 1919 and has a proven history of financial stability

LOCATED IN PRIMARY RETAIL TRADE AREA

Goodwill is along the Madison Avenue corridor. The trade area is home to all major retailers, including Target, Walmart, HyVee, and the River Hills Mall

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Last updated
30 Nov 2022