Overview
Marcus & Millichap is pleased to offer Red Wing Mall for sale, located at 160 Tyler Road in Red Wing, Minnesota. This listing offers the rare opportunity to acquire a regional retail center that offers both great stability and strong upside potential. Red Wing Mall is 100 percent leased and anchored by strong national brands. Aldi, TJ Maxx, and Five Below which lead a diverse tenant lineup, with roughly 80 percent of the property’s income coming from national or regional credit tenants. Over $7M has been spent between roof and tenant improvements since 2017. The property is also shadow-anchored by Target and is just blocks from Walmart Supercenter, which adds to the consistent foot traffic and retail activity in the area.
The property sits in a prime location between several major markets—including Minneapolis–St. Paul, Rochester, La Crosse, and Eau Claire—making it a key regional shopping destination featuring 1.1 Million visitors in the last 12 months per Placer.ai. The surrounding area has strong demographics with over 107,000 people living within five miles and an average household income exceeding $105,000.
Investment Highlights
Anchored By Aldi, TJ Maxx and Five Below With 80% of the NOI Coming From Tenants that are National/Regional Credit
Massive Potential to Increase NOI
Target Shadow Anchored with Walmart Just Blocks Away as Well
Location is a Regional Retail Hub Strategically Located Between Larger Markets Such as Minneapolis/Saint Paul, Rochester, La Crosse, and Eau Claire.
Several Ways for Upside - Via Replacing Multiple Low Rent Tenants, Selling Strip Centers Individually and Potential New Development
Two Tenant's Totaling Nearly 40 Percent of the Center Have Rents Substantially Below Market For Which There is a Clear Path to Capturing
Strong Demographics with a Population of Over 107,000 Within 20 Miles and An Average Household Income of $105,000 Within Five Miles
Traffic Counts of 20,802 Cars Per Day (2024, MN Dept. of Transportation)
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