Detroit Lakes Shopping Center

Price: $3,800,000
Sq. Ft.: 25,710
Cap Rate: 7.5%
Built: 2003

Detroit Lakes Shopping Center is a 25,710-square-foot retail center located in Detroit Lakes, Minnesota. The building is currently 100 percent occupied, and 84 percent of the leases are triple-net. Anchored by Dollar Tree, the center has a complementary mix of service-oriented tenants including the Minnesota State Lottery, Anytime Fitness, Detroit Lakes Tobacco & Vape Plus, Nail Spa DL, and Shoe Sensation. Constructed in 2003, the property is situated on a 2.82-acre parcel with ample paved parking.

Detroit Lakes Shopping Center is located on U.S. Highway 10 at the signalized intersection with Airport Road. U.S. Highway 10 is one of the primary routes through the city of Detroit Lakes and has traffic counts of approximately 37,454 vehicles per day. The center is accessible from multiple ingress and egress points and includes pylon signage for additional exposure.

  • 25,710-Square-Foot, Multi-Tenant Retail Center | 100% Occupied | 84% of the GLA has Triple-Net Leases
  • Shadow-Anchored by a Walmart Supercenter | Major Traffic Driver to the Area with an Estimated 1.7 Million Visitors Annually and Ranks in the Top 70th Percentile in the State of Minnesota Based on Number of Annual Visitors as Compared to Other Walmart Stores (source: Placer Labs Inc.)
  • Anchored by Dollar Tree | Publicly Traded Company (NASDAQ: DLTR)
  • Complementary Mix of Largely Internet-Resistant, Service-Oriented Tenants
  • Building has a Metal Roof | Pylon Signage Provides Exposure to the Center
  • Located on U.S. Highway 10, a Primary Route Through the City of Detroit Lakes | Traffic Counts Exceed 37,454 Vehicles per Day
  • Adjacent to Detroit Lakes – Becker County Airport
  • Close Proximity to Many National and Regional Retailers¬† | 135,000-Square-Foot Washington Square Mall is Two Miles From the Subject Property
  • Three-Mile Average Household Income is $66,736 | Five-Mile Average Household Income is $76,601 | Ten-Mile Average Household Income is $82,041
  • Detroit Lakes Serves as a Regional Hub and is a Popular Tourist Destination | Located 205 Miles Southeast of the Major Metropolitan Area of Minneapolis-Saint Paul
  • Priced at $148 Per Square Foot