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Walgreens 18267 Carson Cir NW 14,721 SF Retail Building Elk River, MN 55330 $4,200,000 ($285.31/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- MINNEAPOLIS–ST. PAUL MSA – Located within the nation’s 16th largest MSA and the second largest in the Midwest, Elk River
- LONG-TERM LEASE EXTENSION – In 2020, Walgreens executed a brand-new 15-year lease with 5% rent escalations every five years
- NURSING HOME ADJACENT – Situated just 0.2 miles from Guardian Angels Care Center, a 120-bed skilled nursing facility
- STRONG POPULATION GROWTH – Elk River is a fast-growing Minneapolis suburb, with projected population increases of 9.3% within 1 mile and 10.1%
- RENTAL ESCALATIONS – Walgreens benefits from rare rental escalations of 5% every 5 years, providing a built-in hedge against inflation
- AFFLUENT COMMUNITY – This Walgreens serves the high-income community of Elk River in Minneapolis’s northwest suburbs, where the average household
EXECUTIVE SUMMARY
Kurt Sauer
Matthews of Minnesota, LLC
License No. 41005445 (MN)
PROPERTY FACTS
AMENITIES
- Corner Lot
- Signage
- Drive Thru
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
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- Retailer
- -
- -
- -
Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
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Retailer | - | - | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 75-759-0125 | Improvements Assessment | $1,111,700 |
| Land Assessment | $766,700 | Total Assessment | $1,878,400 |
PROPERTY TAXES
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Walgreens | 18267 Carson Cir NW
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