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Applebee's | Absolute NNN 2000 Vermillion St 5,471 SF Retail Building Hastings, MN 55033 $1,994,000 ($364.47/SF) 8.50% Cap Rate
Investment Highlights
- 2 Years Remaining | Options To Extend | Rental Increases
- Strong Frontage On Vermillion St | Excellent Visibility & Access
- Strong Demographics In 5-Mile Trade Area | $117K+ AHHI
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Dense Retail Corridor | Strong Retail Synergy
Executive Summary
• There are approximately two (2) years of primary lease term remaining with four (4) additional 5-year renewal options, providing stable in-place income and long-term extension potential
• Rent increases at the beginning of each option period by the greater of 10%or 95% of Fair Market Value (FMV), supporting NOI growth and providing a built-in hedge against inflation
• Rent increases at the beginning of each option period by the greater of 10%or 95% of Fair Market Value (FMV), supporting NOI growth and providing a built-in hedge against inflation
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,471 SF
Building Class
B
Year Built
1996
Price
$1,994,000
Price Per SF
$364.47
Cap Rate
8.50%
NOI
$169,496
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
1.30 AC
Zoning
C-3 - Community Regional Commercial
Parking
97 Spaces (17.73 Spaces per 1,000 SF Leased)
Amenities
- Corner Lot
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
Somewhat walkable
30/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $662,600 | |
| Land Assessment | $492,500 | Total Assessment | $1,155,100 |
Property Taxes
Parcel Numbers
Land Assessment
$492,500
Improvements Assessment
$662,600
Total Assessment
$1,155,100
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Applebee's | Absolute NNN | 2000 Vermillion St
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