535 E Highway 2 | Grand Rapids, MN 55744
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- LoopNet Team
535 E Highway 2
Grand Rapids, MN 55744
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- This site is Caribou Coffee’s new “Cabin” concept, featuring a new drive-up and walk-up only format.
- The property offers additional income from a lease with an Affinity Plus ATM requiring no landlord responsibilities.
- The building is new construction built-to-suit according to Caribou Coffee’s specifications.
- Caribou Coffee recently signed a 10 year lease that commences upon opening with 10% rent bumps every 5 years.
- Caribou Coffee is the dominant coffee chain in Minnesota with more locations in the state than Starbucks and Dunkin’ Donuts combined.
- The building is in close proximity to the signalized intersection of US Highway 2 (8,000 VPD) & US Highway 169 (14,200 VPD).
PROPERTY FACTS
Property Type
Retail
Property Subtype
Fast Food
Building Size
1,278 SF
Building Class
C
Year Built
2022
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
0.70 AC
Zoning
M
Parking
17 Spaces (13.3 Spaces per 1,000 SF Leased)
Frontage
109’ on Northeast 2nd Avenue
AMENITIES
- Drive Thru
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $156,700 | |
| Land Assessment | $179,300 | Total Assessment | $336,000 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$179,300
Improvements Assessment
$156,700
Total Assessment
$336,000
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