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<br />D.AID..EN & DWYER, INC. <br /> <br />*~i'1'~ <br /> <br />Comparable Sale #1 <br /> <br />K-Mart Store - Northfield Market Area <br /> <br />Address: <br /> <br />404-420 Schilling Drive; Dundas, MN <br /> <br />Sales Price: <br /> <br />$3,8~~,.740; $44.67/SF <br /> <br />Date of Sale: <br /> <br />February, 1998 <br /> <br />Seller/Buyer: <br /> <br />Kenneth Karl/901 Argyle Partnership <br /> <br />Zoning: <br /> <br />8-4 <br /> <br />Utilities: <br /> <br />All available <br /> <br />Land Size: <br /> <br />8.64 acres <br /> <br />GBA: <br /> <br />86,479SF K-Mart <br /> <br />Date Built: <br /> <br />1990 <br /> <br />Gross Income: <br /> <br />$363,212; $4.20/SF <br /> <br />K-Mart <br /> <br />Financing: <br /> <br />Cash to mortgage <br /> <br />Confirmation: <br /> <br />Confirmed with broker and assessor <br /> <br />General Remarks <br /> <br />This is a very typical average quality single tenant discount retail store <br />occupied by K-Mart. The property is located on the west side of Highway 3, <br />approximately 2 miles south of Northfield, Minnesota. There is an adjacent retail <br />property containing 8,000 SF which is leased by Fashion Bug. This property was not <br />included in the sale~ This typical K-Mart property features a 20' exterior wall height, <br />loading dock on northwest elevation. The building is fully sprinkled. <br /> <br />The property was encumbered with a long-term, lease with K-Mart as the <br />tenant. The lease included a provision for percentage rent at 1 % of sales in excess <br />of $15,625,000 or$180.68/SF. <br /> <br />45 <br /> <br />, <br />:\ <br />, 1 <br />) <br /> <br />,; ,j <br />:1 <br />( ~ <br />: $ <br />: ! <br />1 ij <br />i, ff <br />; Ii <br />, i <br />; " <br />~ ~it <br />! ~ <br />;j! ~ <br />'! il <br />\ 1 <br />:l -] <br />:1 ~ <br />! 'I <br />:11 <br />" t <br />" <br />',I . <br />, j <br />i I <br />! I <br />it I <br />.i i <br />!l I <br />'l' <br />'"I i <br />~i ~ g <br />.~ r ; <br />';1 ! <br />'[ 1 <br />: r. ~ <br />:,',f,I <br />: I <br />;r! <br />II <br />Ii ! <br />~: ~ <br />\:~ 1 <br />."',', !', <br />! <br />it <br />a 4 <br />,~ I <br />[I I <br />;', ! <br />~t l <br />;;i, I <br />if j <br />,ff ! <br />,,)~ <br />