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520 S Riverfront Dr 3,366 SF Retail Building Mankato, MN 56001 $2,100,000 ($623.89/SF) 5.77% Cap Rate
Investment Highlights
- 10+ Years Remaining | Options To Extend | 1% Annual Increases | Corporate Guaranty
- Dense Retail Node | River Hills Mall (4.6M Annual Visits)
- Signalized, Hard-Corner Intersection | Multiple Access Points |Drive-Thru Equipped
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Minnesota State University (15,700+ Students) | Mayo Clinic Health System - Mankato
- Strong Demographics In 5-Mile Trade Area
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased Arby’s investment property located in Mankato, Minnesota. The tenant, Franchise Associates, LLC (dba Arby’s), recently executed an early lease extension, bringing the remaining term to over 10 years with four (4) additional 5-year renewal options, demonstrating their long-term commitment to the site. The lease includes 1% annual rental increases throughout the current term and option periods, driving consistent NOI growth and providing a built-in hedge against inflation. The lease is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for an out-of-state or passive investor.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,366 SF
Building Class
C
Year Built
2001
Price
$2,100,000
Price Per SF
$623.89
Cap Rate
5.77%
NOI
$121,076
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.95 AC
Opportunity Zone
Yes
Zoning
B-3 - Highway Business District
Parking
56 Spaces (16.64 Spaces per 1,000 SF Leased)
Amenities
- Corner Lot
- Signage
- Signalized Intersection
- Drive Thru
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Very bikeable
80/100
Nearby Major Retailers
Property Taxes
| Parcel Number | R01-09-18-102-007 | Improvements Assessment | $589,500 |
| Land Assessment | $311,300 | Total Assessment | $900,800 |
Property Taxes
Parcel Number
R01-09-18-102-007
Land Assessment
$311,300
Improvements Assessment
$589,500
Total Assessment
$900,800
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520 S Riverfront Dr
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