Rice Real Estate Services is pleased to present this single tenant net leased property for sale in Willmar, Minnesota.
Cash Wise Foods (Coborn’s Inc. “Tenant”) has 7+ years remaining on their current lease (May 2029) along with 2 – 5-year renewal options with rental increases. This lease features a triple net structure with tenant being responsible for everything except roof and structure replacement. Land is leased separately and runs coterminous with existing lease paid directly by Tenant.
Offering price $8,935,000 | NOI $588,411 NNN
Site was specifically developed for Tenant, and they have been in occupancy since 1984, serving the community as one of the main grocery providers and is amongst the area’s largest employers. Cash Wise Foods is under Coborn’s Inc. umbrella, one of 120+ total grocery/retail locations (Coborn’s, Marketplace, Hornbacher’s, Tadych’s Econofoods, Holiday & Little Dukes) across the Midwest. Cash Wise Foods Willmar was awarded Coborn’s Inc. store of the year award in 2014
BUILDING & PROPERTY:
Building consists of 88,355 SF situated on +/-9.5 acres. Originally constructed (55,000 SF) in 1984. Precast addition (33,355 SF) in 1994. Building is in excellent condition with major remodel completed 2021. Renovations include new HVAC system including all new RTU’s, parking lot, tenant FF&E and full interior remodel, total project in excess of $5.5M. Improvement list available upon request.
Grocery, liquor store (new in 2021), pharmacy, convenience store & gas (10 pumps), car wash, cell phone repair and future coffee.
Long term credit tenant with a diverse grocery | service model.
Major renovations completed in 2021, in excess of $5.5M.
Solid market presence and long term occupancy in the same location for nearly 30 years.