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Caribou Coffee "Cabin" St. Peter | Minnesota 804 N Minnesota Ave 550 SF Retail Building Saint Peter, MN 56082 $1,257,142 ($2,285.71/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- This site is Caribou Coffee’s “Cabin” concept, featuring the new drive-up and walkup only format.
- St. Peter is home to the 340 acre college campus of Gustavus Adolphus.
- This location capitalizes on high traffic flow directly on US-169 with nearly 22,000 VPD by the subject property.
- Caribou Coffee signed a 12-year lease with attractive rent increases in Year 6, 11 and in each option period.
- Minnesota has the highest concentration of Caribou Locations nationally.
- Highest Traffic Counts of Any Two-Lane Road in South-Central Minnesota: Highway 169 also connects St. Peter and Mankato along the city’s west side.
EXECUTIVE SUMMARY
This site is Caribou Coffee’s “Cabin” concept, featuring the new drive-up and walk-up only format. Caribou has aggressively expanded its store count with multiple new “Cabin” locations throughout the Midwest. Caribou Coffee signed a 12-year lease with attractive rent increases in Year 6, 11, and in each option period. Minnesota has the highest concentration of Caribou Locations nationally.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Lease Option
Property Type
Retail
Property Subtype
Building Size
550 SF
Building Class
B
Year Built
2019
Price
$1,257,142
Price Per SF
$2,285.71
Cap Rate
7%
NOI
$88,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.03
Lot Size
0.47 AC
Frontage
132’ on Minnesota Ave
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Caribou Coffee
- Accommodation and Food Services
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Caribou Coffee | Accommodation and Food Services | - | - | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 19.771.0010 | Improvements Assessment | $184,800 |
| Land Assessment | $93,300 | Total Assessment | $278,100 |
PROPERTY TAXES
Parcel Number
19.771.0010
Land Assessment
$93,300
Improvements Assessment
$184,800
Total Assessment
$278,100
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Caribou Coffee "Cabin" St. Peter | Minnesota | 804 N Minnesota Ave
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