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Adogo Pet Hotel 6133 Baker Rd 16,800 SF Retail Building Minnetonka, MN 55345 $2,272,800 ($135.29/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- Adogo Pet Hotel has 6 years remaining on the Lease with 2% annual increases.
- Strong demographics with an average household income over $151,000 within a 1-mile radius and daytime population of 98,000 within a 3-mile radius.
- Nearby tenants include United Healthcare, Optum, Carlson Companies, Michael Foods, Children’s ENT, Lifetime Fitness, and more.
- Conveniently located in Minnetonka, MN off two major highways, I-494 with 97,864 vehicles per day and Highway 62 with 28,361 vehicles per day.
- Adogo Pet Hotel offers 5 indoor and 2 outdoor play areas (including water fountains), a professional grooming service, and custom designed rooms.
EXECUTIVE SUMMARY
Landlord responsible for repair and replacement of roof and structure. Tenant responsible for nonstructural repairs to building including roof repairs up to $7,000 per year. Personal Guaranty: Principal $200,000.
Second floor: Suites for over nights & dog training areas.
Tenant has recently replaced a fence & outdoor carpet (approximately $70k).
Second floor: Suites for over nights & dog training areas.
Tenant has recently replaced a fence & outdoor carpet (approximately $70k).
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Building Size
16,800 SF
Building Class
B
Year Built/Renovated
1985/2011
Price
$2,272,800
Price Per SF
$135.29
Cap Rate
7%
NOI
$159,096
Tenancy
Single
Building Height
2 Stories
Building FAR
0.37
Lot Size
1.05 AC
Zoning
Commercial
Parking
55 Spaces (3.27 Spaces per 1,000 SF Leased)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,027,000 | |
| Land Assessment | $821,100 | Total Assessment | $1,848,100 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$821,100
Improvements Assessment
$1,027,000
Total Assessment
$1,848,100
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Adogo Pet Hotel | 6133 Baker Rd
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