Walgreens, Sauk Rapids
Sauk Rapids, MinnesotaSingle-tenant net lease
A freestanding, corporate-guaranteed Walgreens on a four-corner signalised site, 1.3 miles from the largest hospital in Central Minnesota.
A pharmacy where the traffic and the hospital both are.
Built in 2011 as a relocation from a smaller footprint nearby, this Walgreens moved here for a drive-thru, a larger parking field and better traffic flow — the things that decide whether a pharmacy keeps renewing.
The site is a genuine four-corner location with two signalised intersections and three points of ingress and egress, capturing both Benton Drive and 2nd Street traffic: over 43,000 vehicles a day combined. It sits across from the 57-unit Mississippi Lofts apartment complex.
St. Cloud Hospital is 1.3 miles away — 489 beds, more than 6,500 staff and over 500 physicians, the largest healthcare facility in the region and a durable, non-discretionary driver of pharmacy demand.
Zero
landlord responsibilities. An absolute net lease with a corporate guaranty is about as close as commercial real estate gets to a bond with a building attached: the tenant carries taxes, insurance, maintenance, roof and structure, and Walgreens itself stands behind the obligation.
- StructureAbsolute NNN, no landlord responsibilities of any kind
- GuarantyCorporate — Walgreens, not a franchisee or a subsidiary
- Commencement1 October 2011
- Current term expiration30 September 2036, leaving 11 years of term
- Renewal optionsFifty one-year options beyond the current term
- Rent increasesNone during the current term
- Annual base rent$645,000
Everything, on the record.
A modern, freestanding, single-tenant pharmacy on 1.59 acres, built in 2011 with a drive-thru and a dedicated parking field.
- Drive-thru
- Freestanding
- Two signalised intersections
- Three ingress/egress points
- Dedicated parking field
- Address115 2nd Ave N, Sauk Rapids, MN 56379
- CountyBenton
- MarketSt. Cloud
- Asset typeSingle-tenant retail pharmacy
- Building area14,490 square feet
- Land1.59 acres
- Year built2011
- Construction statusExisting, freestanding, one building
- TenancySingle tenant, 100% occupied
- Lease typeAbsolute NNN
- GuarantyCorporate
- Landlord responsibilitiesNone
- Annual base rent$645,000
- Traffic43,000+ vehicles per day combined
Property, lease and financial figures on this page are as presented in the offering memorandum for this asset. They describe the terms of that offering and are not a projection of future performance or a statement of any investor's return. Buyers should verify independently.
Three things that make a pharmacy stay put.
Pharmacy real estate lives and dies on access and on what is nearby. This site has an unusually strong version of both, which is the argument for eleven years of remaining term and fifty options.
A true four-corner site
Two signalised intersections and three points of ingress and egress, capturing both Benton Drive and 2nd Street traffic — over 43,000 vehicles a day combined.
1.3 miles from the region's hospital
St. Cloud Hospital is the largest healthcare facility in the region: 489 beds, 6,500+ staff and 500+ physicians, generating consistent, non-discretionary pharmacy demand.
Built for the way it trades
A 2011 relocation from a smaller nearby store, purpose-built with a drive-thru, a larger parking lot and improved traffic flow. Walgreens chose this corner deliberately.
Sauk Rapids, and the St. Cloud metro behind it.
Sauk Rapids sits on the east bank of the Mississippi directly across from St. Cloud, on U.S. Highway 10 and State Highway 15 with quick access to I-94. It is part of the St. Cloud Metropolitan Statistical Area, anchored by CentraCare Health and St. Cloud State University.
Five mile radius. Demographic figures as presented in the offering memorandum.
The building and its corner.
Sourced, underwritten and asset managed in house.
Seven years in commercial construction before founding Boser Construction in 1996 and Inventure Properties in 2000. Over 35 years across construction, design and development.
With Inventure since 2017, leading commercial real estate strategy, acquisitions and investor relationships across Central Minnesota.
Leads development and investment work across the portfolio, and is the first point of contact for investors reviewing an asset.
Fee-based property and asset management: leasing, maintenance, accounting, financial reporting and ongoing owner communication.
Talk to us about this one.
The full memorandum covers the lease abstract, the tenant financials, the site detail and the financing structure. It is shared directly with prospective investors rather than published here. Start below, or call either of us.
This page is for informational purposes only. It is not an offer to sell, or a solicitation of an offer to buy, any security. Any offer is made solely through the confidential offering memorandum and the related offering documents, which should be read in full, and participation is generally limited to accredited investors.
Property, lease, traffic and demographic figures are drawn from the offering memorandum prepared for this asset by a third-party brokerage and have not been independently verified by Inventure. They describe the terms of that offering, not a projection of future performance or any investor's return. Walgreens is a tenant at this property; nothing here is sponsored or endorsed by, or affiliated with, Walgreens. Buyers should verify all information independently.