Caribou Coffee | 12495 5th Ave
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Caribou Coffee 12495 5th Ave
554 SF Retail Building Zimmerman, MN 55398 $1,300,000 ($2,346.57/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- Caribou Coffee's 10 year lease, which includes 10% rent escalations every five years, has over 8 years of term remaining
- This site features Caribou Coffee’s new “Cabin” concept, which is a drive-thru and walk-up only design
- US Hwy. 169 is the primary roadway linking Zimmerman to Minneapolis and is currently being expanded to carry even more traffic
- Caribou Coffee is the market-dominant coffee chain in Minnesota, with more locations than Starbucks and Dunkin' Donuts combined
- The property has direct visibility from US Hwy. 169 and 5th Ave. N
- Within a three-mile radius, the average household income is $124,000, 16% higher than the national average
EXECUTIVE SUMMARY
Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in Caribou Coffee located at 12495 5th Ave N in Zimmerman, MN, within the Minneapolis-St. Paul metro. This newly constructed build-to-suit asset is 100% leased to Caribou Coffee corporate. The 554 SF building sits on .33 acres of land and features Caribou Coffee's new “Cabin” concept, which is a drive-thru and walk-up only format. The tenant signed a 10-year NNN lease, which features 10% rent escalations every five years and commenced in December of 2022, leaving over 8 years remaining.
Caribou Coffee is the market-dominant coffee chain in Minnesota, with more locations than Starbucks and Dunkin' Donuts combined. With over 770 locations across the globe, Caribou Coffee is quickly increasing their share of the coffee market. Caribou Coffee is part of a portfolio of complementary brands bound by common values, Panera Brands, comprised of Panera Bread®, Caribou Coffee® and Bagel Brands.
The property is located on the corner of and is highly visible from 5th Ave N and US-169, the latter of which is the primary north-south arterial thoroughfare serving Zimmerman. The site is ideally situated with a grocer immediately to the south and 128 units of newly developed luxury apartments the the north. In additional to its proximity to major roadways and traffic drivers, the asset is also supported by an affluent consumer base. Within a three-mile radius, the average household income is $124,000, 16% higher than the national average.
Please see OM for more info.
Caribou Coffee is the market-dominant coffee chain in Minnesota, with more locations than Starbucks and Dunkin' Donuts combined. With over 770 locations across the globe, Caribou Coffee is quickly increasing their share of the coffee market. Caribou Coffee is part of a portfolio of complementary brands bound by common values, Panera Brands, comprised of Panera Bread®, Caribou Coffee® and Bagel Brands.
The property is located on the corner of and is highly visible from 5th Ave N and US-169, the latter of which is the primary north-south arterial thoroughfare serving Zimmerman. The site is ideally situated with a grocer immediately to the south and 128 units of newly developed luxury apartments the the north. In additional to its proximity to major roadways and traffic drivers, the asset is also supported by an affluent consumer base. Within a three-mile radius, the average household income is $124,000, 16% higher than the national average.
Please see OM for more info.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
554 SF
Year Built
2022
Price
$1,300,000
Price Per SF
$2,346.57
Cap Rate
7%
NOI
$91,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
0.33 AC
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 95-575-0110 | Improvements Assessment | $91,500 |
| Land Assessment | $109,000 | Total Assessment | $200,500 |
PROPERTY TAXES
Parcel Number
95-575-0110
Land Assessment
$109,000
Improvements Assessment
$91,500
Total Assessment
$200,500
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Caribou Coffee | 12495 5th Ave
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