|Price/Rent PSF||$ 2,323,000.00|
|SQ. FT. Available||3,500|
Hutchinson is the largest city in McLeod County, Minnesota, United States, and is located along the South Fork of the Crow River. Hutchinson's economy is lead by three sectors; manufacturing, retail, and medical. Manufacturing jobs are with Hutchinson Technology (~390 employees, computer and peripheral equipment) and 3M (2900 employees, flags and vinyl, Scotch tapes). The Goebel Fixture Co. employs 125 in a niche market, producing cabinetry fixtures for department stores nationwide. The town possesses agricultural roots, notably as the birthplace of the Geier Hitch. The retail and service economy has grown from agricultural supply and processing to include a combination of local manufacturing, shopping, and a growing restaurant and food service industry with multiple new options opening recently. It also has an excellent hospital and medical center that offer primary care as well as full access to specialty care.
Fortis Net Lease is pleased to present a brand new 2019 built-to-suit Thrifty White Pharmacy located at 1460 Montreal Street SE, Hutchinson MN. There is a brand new 15-Year NN+ Lease that commenced in May of 2019. The lease features a 10% rent increase in year 11. There are three, 5 year option periods with 10% rent increases in place. Thrifty White Pharmacy is a regional credit tenant with 98 Locations.
This investment property is surrounded by many national retailers such as Walmart, Target, Best Buy, Goodwill, Chipotle, McDonald's, Buffalo Wild Wings, Hutchinson Health Hospital, Culver's, Menards and many more. The ten mile population exceeds 21,000 residents. The average household income exceeds $72,000 within 3 miles.
This is an ideal opportunity for an investor to purchase a passive income real estate asset with very minimal management responsibilities. The tenant is responsible for all property taxes, insurance and capital expenditures including the roof, HVAC, & CAM. Landlord is responsible for slab and structure.