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3509 S Minnesota Ave 3,444 SF Retail Building Sioux Falls, SD 57105 $1,675,000 ($486.35/SF) 6.01% Cap Rate
Investment Highlights
- Income Tax-Free State
- Absolute NNN with 18 Years Remaining Term
- Highly Visible Site on Primary Retail Thoroughfare
- Excellent Rent/Sales Ratio
- Strong Franchisee | Over 110 Units Under Management
- Annual Visits in the Top 30% Nation-Wide for Arby's Locations (Placer.ai data)
Executive Summary
Colliers International is proud to present the Arby’s restaurant site on Minnesota Avenue in Sioux Falls, South Dakota. Arby’s has been at this location since its construction in 2011 and currently operates under a 20-year lease with approximately 18 years remaining term. This is an absolute net-leased property (Absolute NNN) with no landlord responsibilities for property taxes, utilities, maintenance or roof/structure. Rental income is set at a base amount, with percentage rent being applied above a specified gross sales figure as an efficient hedge against inflation. The franchisee on-site is DRM, Inc., one of the largest Arby’s operators in the country with over 110 locations
nationwide.
Arby’s has a long and successful track record at this site since 2011. It benefits greatly from its strategic location along the on and off ramps of Interstate 229, along with its positioning on Minnesota Avenue which has the highest traffic counts among North/South Avenues in south Sioux Falls. The immediate area is home to numerous national retailers including Costco, Hy-Vee Grocery, Hardee’s, McDonalds, At Home Furniture, Planet Fitness, and more.
nationwide.
Arby’s has a long and successful track record at this site since 2011. It benefits greatly from its strategic location along the on and off ramps of Interstate 229, along with its positioning on Minnesota Avenue which has the highest traffic counts among North/South Avenues in south Sioux Falls. The immediate area is home to numerous national retailers including Costco, Hy-Vee Grocery, Hardee’s, McDonalds, At Home Furniture, Planet Fitness, and more.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Building Size
3,444 SF
Building Class
C
Year Built
2011
Price
$1,675,000
Price Per SF
$486.35
Cap Rate
6.01%
NOI
$100,625
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
1.19 AC
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Accommodation and Food Services
- 3,444 SF
- $29.23
- Triple Net
- Oct 2043
The Arby's brand purpose is Inspiring Smiles Through Delightful Experiences™. Arby's delivers on its purpose by celebrating the art of Meatcraft® with a variety of high-quality proteins and innovative, crave-able sides, such as Curly Fries and Jamocha shakes. Arby's Fast Crafted® restaurant services feature a unique blend of quick-serve speed combined with the quality and made-for-you care of fast casual. Arby's Restaurant Group, Inc. is the franchisor of the Arby's Brand and is part of the Inspire Brands family of restaurants headquartered in Atlanta, Ga. Arby’s, founded in 1964, is a leading sandwich drive-thru restaurant brand with restaurants globally.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Accommodation and Food Services | 3,444 SF | $29.23 | Triple Net | Oct 2043 |
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 85293 | Improvements Assessment | $653,800 |
| Land Assessment | $0 | Total Assessment | $653,800 |
Property Taxes
Parcel Number
85293
Land Assessment
$0
Improvements Assessment
$653,800
Total Assessment
$653,800
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