Walgreens

5474 Mountain Iron Dr, Virginia, MN 55792

  • For Sale $3,250,000
  • Property Type Retail - Freestanding
  • Property Size 13,650 SF
  • Lot Size 1.28 Acre
  • Property Tenancy Single Tenant
  • Year Built 2006
  • Date Updated Jul 16, 2025
Located in the heart of Minnesota’s scenic Iron Range, Virginia is a dynamic regional hub with a rich industrial history and a growing commercial landscape. The area surrounding Walgreens in Virginia, MN, offers a strategic location for retail investors, benefitting from steady consumer traffic and regional draw. Positioned along the bustling US Highway 53 corridor, the location enjoys high visibility and direct access to Duluth (just over an hour south) and the Canadian border to the north, making it a key connector in northeastern Minnesota. Virginia is home to major national retailers including Walmart Supercenter, Target, and Menards, all within close proximity, reinforcing the area’s strength as a retail destination. The nearby Thunderbird Mall continues to serve as a regional shopping center, attracting residents from across the Iron Range for both convenience and variety. Dining and daily needs are met by familiar brands such as McDonald’s, Culver’s, and Applebee’s, along with several locally owned establishments that reflect the community’s character. Recreational and lifestyle amenities also support the area’s long-term appeal. Virginia is bordered by lakes and forests that offer year-round outdoor activities, while nearby destinations like Giant's Ridge Ski Resort and the Mesabi Trail enhance tourism and visitor traffic. With a stable population base, regional healthcare facilities like Essentia Health, and educational institutions such as Mesabi Range College, the area presents strong fundamentals for retail success. This setting offers investors a compelling mix of regional stability, commercial synergy, and long-term growth potential.a
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Highlights

  • 1.28 Acres Site
  • AADT Approaching 20,000 Vehicles Per Day
  • Build To Suit In 2006
  • Choice Corner Location
  • Efficient 13,650 S.F. Building w/ Drive-Thru
  • Lighted Intersection Along U.S. Highway 53
  • Low Rent Of $275,000 Per Year
  • Store Sales Exceeding $2.8MM
  • Surrounded By National Retailers Including Target, Menards, Aldi, AutoZone, McDonald's, Dollar Tree, Hobby Lobby, Caribou And Many More.

Contacts

broker

Encore Real Estate Investment Services

Location

Getting Around

  • Walk Score ®

    53/100 Somewhat Walkable
  • Bike Score ®

    44/100 Somewhat Bikeable
Powered by Walk Score ®
  • City Virginia, MN
  • Zip Code 55792

Points of Interest

  • ico

    0.33 miles

  • Holiday

    0.49 miles

  • Spur

    0.68 miles

  • Lucky 7 Diesel

    1.16 miles

  • Clark

    1.31 miles

  • Freedom Valu Centers

    1.31 miles

  • Old Time Oil

    3.84 miles

  • Kim's Oil Co.

    4.75 miles

  • ICO Spur

    4.79 miles

  • Handicapped

    0.90 miles

  • Visitor Parking

    0.92 miles

  • Unpaved Parking

    1.01 miles

  • Permit Parking

    1.03 miles

  • Private Parking

    1.04 miles

  • Gravel Lot

    1.15 miles

  • Private

    1.16 miles

  • Library

    1.17 miles

  • Sawmill Saloon & Restaurant

    0.03 miles

  • Adventures

    0.05 miles

  • Pizza Hut

    0.12 miles

  • Other Guys Burgers

    0.14 miles

  • Village Inn

    0.16 miles

  • Hardee's

    0.18 miles

  • Arby's

    0.41 miles

  • Grandma's Saloon & Grill

    0.45 miles

  • McDonald's

    0.47 miles

  • KFC

    0.49 miles

  • Plaza 53 West

    0.17 miles

  • Herberger's

    0.24 miles

  • ALDI

    0.38 miles

  • Target

    0.56 miles

  • Super One Foods

    0.58 miles

  • Natural Harvest Food Cooperative

    1.33 miles

  • Walmart Supercenter

    1.55 miles

Frequently Asked Questions

How much does Walgreens cost?

The space currently listed for sale at Walgreens asks for $3,250,000.

What is the total square footage of Walgreens?

Walgreens totals 13,650 square feet.

When was this property built?

Walgreens was built in 2006.

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Contact Listing Broker
broker

Encore Real Estate Investment Services

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