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Dickenson Commercial LLC Acquires 15-Year-Old Walgreens Store In Little Falls For $3.6M

Property Image
SOLD
$3,600,000

Minnesota

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Retail10,640 SF
Sold 11/06/2023
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Property Image
SOLD

Dickenson Commercial LLC Acquires 15-Year-Old Walgreens Store In Little Falls For $3.6M

1023 1st Avenue Northeast

See Similar Deals
Retail10,640 SF
Sold 11/06/2023
Contact now

Summary

MINNESOTA
Asset Type:Retail
Price Per Square Foot:$338
Total Square Footage:10,640 SF
Transaction Type:Sale

Dickenson Commercial LLC, registered in Woodbury, has acquired a 15-year-old Walgreens store in Little Falls, MN for a total of $3.6 million. The property, located at 1023 1st Ave NE, is a retail asset with a total square footage of 10,640. The price per square foot for this transaction is $338, making it an attractive investment for the buyer.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $3,600,000
  • Address: 1023 1st Ave NE, Little Falls, MN
  • Market: Little Falls, MN
  • Buyer: Dickenson Commercial LLC
  • Seller: Waltrust Properties Inc
  • Brokers: Jeff Bracco - The Kase Group Real Estate, Sean Stark - Caspian Realty
  • Square Footage: 10,640
  • Price per Square Foot: $338

The acquisition of the Walgreens store in Little Falls was facilitated by the brokers Jeff Bracco from The Kase Group Real Estate and Sean Stark from Caspian Realty. Both brokers played a key role in ensuring a successful transaction between the buyer, Dickenson Commercial LLC, and the seller, Waltrust Properties Inc.

Players

Jeff Bracco
1 deal$3.6M volume(510) 388-4438
BROKER

Sean Stark
Caspian Realty
1 deal$3.6M volume(651) 353-1266
BROKER

Details

SOLD
IMAGE: Jeff Bracco & Sean Stark DATE: 11/06/2023 ADDRESS: 1023 1st Ave NE MARKET: Little Falls, MN ASSET TYPE: Retail BUYER: Dickenson Commercial LLC SELLER: Waltrust Properties Inc BROKERS: Jeff Bracco - The Kase Group Real Estate & Sean Stark - Caspian Realty SALE PRICE: $3,600,000 SF: 10,640 ~ PPSF: $338 NOTE: Dickenson Commercial LLC, registered in Woodbury, acquired a 15-year-old Walgreens store in Little Falls for $3.6 million.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$192,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,790.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,065.84
Annual Debt Service$204,790.04