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  1. Commercial Properties
  2. MN
  3. Mountain Iron

Walgreens

For Sale

5474 Mountain Iron Dr, Virginia, MN 55792

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

Key features

  • 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.

Building Details

  • For Sale $3,250,000
  • Property Type Retail - Freestanding
  • Property Size 13,650 SF
  • Lot Size 1.28 Acre
  • Additional Rent Price on request
  • Property Tenancy Single Tenant
  • Year Built 2006
  • Date Updated Sep 21, 2026
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Contacts

broker
Michael Marzinske

Encore Real Estate Investment Services

Location

  • City Virginia, MN
  • Zip Code 55792
  • Map
  • Street
  • Walk score 53/100 Somewhat Walkable
  • Bike score 44/100 Somewhat Bikeable
Powered by Walk Score ®

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

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

Listing Summary

  • Property Financials

    5474 Mountain Iron Dr is currently listed for sale at $3,250,000 for a price per square foot of $238.1.

  • Property Details

    5474 Mountain Iron Dr totals 13,650 square feet of Retail space on a lot spanning 1.28 acres. The property was initially built in 2006.

    Tenancy at 5474 Mountain Iron Dr is listed as Single Tenant.

  • Area Characteristics

    In terms of ease of commuting, the area has a walk score of 53, indicating that it is somewhat walkable.

Contact Michael Marzinske
broker
Michael Marzinske

Encore Real Estate Investment Services

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