Brand New 15 Yr Absolute NNN Leased Walgreens 11401 N Marketplace Dr 13,833 SF Retail Building Champlin, MN 55316 $4,366,197 ($315.64/SF) 7.10% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand New 15 Year Absolute NNN Lease with 5% Increases Every 5 Years
- 1-Mile Average Household Income $135,550
- Corporate Guarantee - NASDAQ:WBA
- Zero Landlord Obligations
- Significant Tenant Funded Improvements Including A New Roof
- Close Proximity to Allina Health Urgent Care
EXECUTIVE SUMMARY
The Kase Group is excited to present a prime investment opportunity with a well-established Walgreens location in Champlin, Minnesota. This property features a new 15-year absolute NNN lease with zero landlord obligations, backed by a corporate guarantee from Walgreens. Key highlights of the lease include 5% rent increases every five years and twelve 5-year renewal options. The building is strategically located at a signalized intersection, providing excellent visibility and exposure to over 49,874 vehicles daily combined. The site is within close proximity to Allina Health Urgent Care and is surrounded by popular tenants such as Aldi, Target, Goodwill, Starbucks, Chipotle, Cub Foods, Culver's and more.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,833 SF
Building Class
C
Year Built
1998
Price
$4,366,197
Price Per SF
$315.64
Cap Rate
7.10%
NOI
$310,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.68 AC
Parking
40 Spaces (2.89 Spaces per 1,000 SF Leased)
Frontage
292’ on Marketplace
AMENITIES
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Bike Score®
Very Bikeable (71)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 31-120-21-13-0094 | Improvements Assessment | $2,734,000 |
| Land Assessment | $732,000 | Total Assessment | $3,466,000 |
