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Clocktower Commons | Andover, MN 13632-13660 Crosstown Blvd NW 4,930 SF 100% Leased Retail Building Andover, MN 55304 $6,090,000 ($1,235.29/SF) 5.75% Cap Rate
Investment Highlights
- New-Construction Two-Tenant Chipotle and Starbucks at Clocktower Commons (Two Freestanding Drive-Thru Buildings)
- 10% Increases Every 5 Years During the Base Term and Each of the Four 5-Year Options
- Corporate Starbucks With Drive-Thru (NASDAQ: SBUX; S&P: BBB+): New 12-Year Lease
- Corporate Chipotle With Drive-Thru (NYSE: CMG): New 15-Year NNN Lease
- Corporate Lease (NYSE: CMG); Over 3,800 Stores in the U.S., Canada, France, Germany, and the United Kingdom
- 10% Rental Increase in Year 6, and Each of the Four 5-Year Options
Executive Summary
New-Construction, Long-Term Corporate Leases | Hard-Corner, Signalized-Intersection Location | Affluent Twin Cities Suburb ($178K AHHI)
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
4,930 SF
Building Class
C
Year Built
2025
Price
$6,090,000
Price Per SF
$1,235.29
Cap Rate
5.75%
NOI
$350,175
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.05
Lot Size
2.06 AC
Zoning
Commercial - Commercial
Parking
50 Spaces (10.14 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Signage
Fairly walkable
50/100
Exceptionally drivable
100/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,685,400 | |
| Land Assessment | $1,403,900 | Total Assessment | $3,089,300 |
Property Taxes
Parcel Numbers
Land Assessment
$1,403,900
Improvements Assessment
$1,685,400
Total Assessment
$3,089,300
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Clocktower Commons | Andover, MN | 13632-13660 Crosstown Blvd NW
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