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Walgreens
115 2nd Avenue North - Sauk Rapids, MN 56379
This high-performing Walgreens is strategically positioned near St Cloud Hospital, the region’s largest medical hub with 490 beds and 1.6M sf of facilities. This prime location drives consistent prescription demand and ensures a built-in customer base of patients, staff, and visitors. Since relocating to this newly built store in 2011, Walgreens has maintained strong, reliable sales and kept the property in excellent condition. With over 11 years remaining on the initial 25-year lease and extension options through 2086, investors benefit from a long-term, stable cash flow with $7.4 million in obligated rent remaining. Situated on a high-traffic commercial corridor with exceptional visibility, this absolute NNN lease property offers zero landlord responsibilities – making it a truly effortless, passive income investment.
- Strong sales performance: Historical sales data highlights this Walgreens as a high-performing location, generating consistent revenue and strong prescription demand; with a well-established customer base and stable foot traffic, this store continues to perform well within the market, reinforcing its long-term viability as a secure investment
- Relocation from former nearby store: Walgreens reaffirmed its commitment to this market by relocating from its former store to this newly constructed, larger facility in 2011 to meet growing demand. Signing a 25-year lease, with over 11 years remaining, Walgreens’ long-term investment in this location highlights its strong performance and enduring stability
- Absolute NNN lease – zero landlord responsibilities: The property is under an Absolute Triple Net (NNN) lease, meaning Walgreens covers all expenses, ensuring a hands-off, passive investment
- Freestanding building at high-traffic corner: Strategically positioned at a bustling signalized intersection, this property sees over 35,000 vehicles per day from Benton Dr and 2nd Ave, plus an additional 25,000 VPD from US Highway 10, ensuring exceptional traffic exposure and accessibility; The expansive 1.5+ acre lot offers flexibility for potential expansion or future redevelopment opportunities
- Region’s largest healthcare facility: As the closest pharmacy to St. Cloud hospital, a 1.6m sf, 500-bed medical hub, this Walgreens benefits from constant prescription demand; the hospital’s 2019 renovation and expanding services further cement its role as the go-to pharmacy for patients, staff, and visitors; this prime location ensures long-term investment stability
In Cooperation With ParaSell, Inc., A Licensed Minnesota Broker – Lic. #40685007 BoR: Scott Reid – Lic. MN #40685007
Walgreens
115 2nd Avenue North - Sauk Rapids, MN 56379
WALGREENS
Walgreens, one of the largest and most recognized pharmacy retailers in the U.S., is currently in the process of being acquired by Sycamore Partners, a private equity firm specializing in retail and consumer investments. This acquisition presents an opportunity for Walgreens to streamline operations while maintaining its strong national presence. This specific Walgreens location in Sauk Rapids is wellpositioned for long-term success. As a relocation store, it was carefully selected to meet growing community demand and features an upgraded, modern design in excellent condition. The store benefits from strong customer traffic, a strategic location, and a well-maintained infrastructure, reinforcing its stability amid broader corporate changes. Additionally, in the unlikely event of a future transition, the property offers significant redevelopment potential. The large lot size provides flexibility for alternative retail, medical, or mixed-use redevelopment, ensuring the site remains a valuable asset for years to come.
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Price
$7,950,000
Cap Rate
8.11%
PREMISES
14,490 SF
RENEWAL OPTIONS
None
Lease Expiration
08/31/2036
Lease Type
Absolute NNN
RENTAL INCREASES
None
BROKERS
Scott Reid, ParaSell LLC
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Sands Investment Group (“Broker”) is presenting for sale the Subject Property (“Property”) referenced above, by the Property’s owner (the “Owner”). Our agreement with the Owner requires that we obtain a Non-Disclosure before disclosing the name and location of his/her location of his/her business. The undersigned (“Recipients”) hereby acknowledge and agree that certain confidential information that has been or may be disclosed is intended solely for Recipients’ limited use in considering whether to pursue negotiations to acquire the Property.
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