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Walgreens | Absolute Net | 9 Years Remaining 2024 85th Ave 14,560 SF Retail Building Brooklyn Park, MN 55444 $4,649,000 ($319.30/SF) 7.50% Cap Rate
Investment Highlights
- Absolute net lease through December 2035. Zero landlord responsibilities
- High traffic store: Top 90th percentile in Minnesota and top 88th percentile nationwide, per Placer.ai (see page 8 of OM)
- Established location with Walgreens operating since it was built-to-suit in 2004 (22 years)
- Dense trade area with over 249,000 residents within five miles
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,560 SF
Building Class
B
Year Built
2004
Price
$4,649,000
Price Per SF
$319.30
Cap Rate
7.50%
NOI
$348,700
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
5.64 AC
Zoning
PCDD
Parking
71 Spaces (4.86 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Fairly walkable
50/100
Exceptionally drivable
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 14-119-21-43-0046 | Improvements Assessment | $1,791,500 |
| Land Assessment | $1,413,300 | Total Assessment | $3,204,800 |
Property Taxes
Parcel Number
14-119-21-43-0046
Land Assessment
$1,413,300
Improvements Assessment
$1,791,500
Total Assessment
$3,204,800
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