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Wells Fargo Drive Thru Ground Lease 925 County Road 42 W 4,489 SF Retail Building Burnsville, MN 55306 $2,421,000 ($539.32/SF) 4.75% Cap Rate
Investment Highlights
- Wells Fargo has 7,200+ locations in 37 states with an S&P rating of BBB+ and year end 2021 revenues of $78.4 billion.
- This Wells Fargo Drive Thru Ground Lease is located on an out parcel to the Burnsville Center, a 1,100,100 square-foot destination.
- Strong demographics with an average household income of $128,626 and population of 170,781 within a 5-mile radius.
- Bank Deposits as of June 30, 2023 are $246 million at this location.
- This Wells Fargo Drive Thru Ground Lease has excellent visibility from County Road 42 West which averages over 49,000 vehicles per day.
- Burnsville is 15 miles south of downtown Minneapolis and the ninth largest suburb in the metro area.
Executive Summary
Tenant has 10 day right of first refusal.
Ground Lease includes Drive Thru portion of Wells Fargo. Owner of Drive Thru Ground Lease has Right of First Refusal to acquire Wells Fargo Bank building.
Ground Lease includes Drive Thru portion of Wells Fargo. Owner of Drive Thru Ground Lease has Right of First Refusal to acquire Wells Fargo Bank building.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Bank
Building Size
4,489 SF
Building Class
C
Year Built
1992
Price
$2,421,000
Price Per SF
$539.32
Cap Rate
4.75%
NOI
$115,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.29
Lot Size
0.36 AC
Zoning
Commercial
Parking
19 Spaces (4.23 Spaces per 1,000 SF Leased)
Frontage
79’ on County Road 42 West
Amenities
- Bus Line
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Wells Fargo & Company
- -
- -
- -
- Feb 2027
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Wells Fargo & Company | - | - | - | Feb 2027 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 02-15380-01-091 | Improvements Assessment | $569,300 |
| Land Assessment | $494,500 | Total Assessment | $1,063,800 |
Property Taxes
Parcel Number
02-15380-01-091
Land Assessment
$494,500
Improvements Assessment
$569,300
Total Assessment
$1,063,800
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Wells Fargo Drive Thru Ground Lease | 925 County Road 42 W
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