1811 Paul Bunyan Dr NW
Bemidji, MN 56601
Starbucks · Retail Property For Sale

NEWLY CONSTRUCTED STARBUCKS IN REGIONAL TRADE AREA This newly constructed Starbucks is subject to a 10 year lease with 10% rental increases every five years during the primary term and all option periods. This trade area is the largest commercial center between Grand Forks, North Dakota and Duluth, Minnesota, located 104 miles to the west and 135 miles to the east, respectively. The subject property is situated in the heart of the primary retail corridor and is surrounded by many big box tenants including Walmart, Target, Menards, Home Depot and the Paul Bunyan Mall, home to Bath & Body Works, Gander Mountain, Famous Footwear, Herberger’s, JCPenney, Hobby Lobby, Joann Fabric and Kohl’s. DESIRABLE TENANCY WITH REVENUES EXCEEDING $22.3 BILLION Starbucks has established itself as one of the most desired tenants in the net lease industry due to its strong reported revenues and loyal customer base. Since 1971, the publicly owned company has steadily opened restaurants throughout the country and now has over 25,000 retail stores in 70 countries. As of 2017, they reported sales close to $22.39 billion and have a strong investment grade credit rating of “A-” by S&P and popularity among consumers globally. EXCELLENT ACCESS & VISIBILITY The subject offering is easy accessible from a curb cut on Paul Bunyan Drive and a second entrance on Hannah Avenue from the adjacent hotel. The site is exposed to 15,000 vehicles per day along Paul Bunyan Drive, which is the primary retail corridor in Bemidji. Starbucks close proximity to the interstate makes this location very desirable for both customers and retailers alike. CAPTIVE MARKETPLACE This new Starbucks is their only location within a 70 mile radius, allowing it to pull customers from a wide area. This captive marketplace creates a great opportunity for the location to flourish throughout the duration of its lease and positions it for long term success. CLOSE PROXIMITY TO SANFORD HEALTH CENTER Sanford Health is the largest health care provider in the region and has continued to expand and improve their array of services. In 2013, they opened the Heart and Vascular Center, providing 24-hour cardiology services. The medical center then opened a new two-story, 46,385 square foot Orthopedics & Sports Medicine Center, which brought together the region’s largest team of surgeons, physicians, therapists and trainers. They are currently working on an additional expansion of the Cancer Center. COUNTLESS VISITORS ANNUALLY DUE TO FIRST NATIONAL FOREST The Chippewa National Forest is the country’s first national forest, which was established in 1908. The forest boundary encompasses 1.6 million acres with approximately 665,000 acres managed by the USDA Forest Services. There are more than 3,000 archeological and historic sites, to go along with countless outdoor activities, which draw tourists from all over the country. This frequent supply of fresh customers creates a great opportunity for Starbucks and other retailers. WELL ESTABLISHED COLLEGE TOWN The subject property is located in Bemidji, which is a historically charming, progressive city in the Northwoods of Minnesota and is considered a regional educational center. Bemidji is home to Bemidji State University, a public university with over 5,000 students enrolled each year, attracting students from both in and out of state.