2220 London Road
Duluth, MN 55812 ·
3,100 SF · Retail For Sale
|Building Size||3,100 SF||Cap Rate||8.35%|
|Property Use Type||Net Lease Investment with 10+ years left on lease||Lot Size||1.20 SF|
|Listing ID: 16022058||Date Created: 12/10/2008||Last Updated: 05/18/2009|
The subject property is located at 2220 London Road in Duluth, MN. This Wendy's is a 3,100-square foot free-standing building, which sits on a 0.643 acre parcel. The investment is a 15-year absolute NNN lease with an experienced multi-unit operator. This Wendy's has 7 percent rental increases every five years and four five-year options to renew. The property has excellent signage and easy ingress/egress at a busy intersection with a vehicle count of 14,450 vehicles per day. This is a great investment opportunity for the first time investor.
Duluth, MN is located approximately 155 miles Northeast of Minneapolis, MN. The property is positioned in a busy trade area surrounded by McDonald's, Burger King, Subway, Pizza Hut and KFC and is also located less than one mile from Edgewater and Chalet Motels. This location benefits from a surrounding population of more than 68,000 residents. Additionally this location is positioned one block from Interstate 35, which runs parallel with the northwest shore of Lake Superior into central Duluth. The city serves as an international port, hosting more than 1,000 foreign vessels annually and facilitates a healthy industrial sector focused on technology, medical care, aviation and tourism.
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