1271 Yankee Doodle Rd
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1271 Yankee Doodle Rd
42,570 SF Retail Building Eagan, MN 55121 $14,000,000 ($329/SF) 6.72% Cap Rate
Investment Highlights
- New Construction & Lease: Rent Commencement April 8, 2023 | 15 Year Lease | 10% Rent Increase Year 6 and 11
- Dominant Retail Trade Area: Must Have Location for Most Major Retailers | Significant Barriers to Entry | 1.95M SF of Retail within 1 Mile
- Exceptional Demographics: AHHI of $135,340 | Population within 5 Miles: 116,895 | Daytime Population within 5 Miles: 145,036
- Investment Grade Credit: AA+ S&P Rated Credit
- Easy Access to Freeway: Located at Signalized Intersection of Yankee Doodle Rd & Denmark Ave
- Stable and Predictable Cash Flows: 100% Occupied through 2038 | Rent Increases Within Hold Period
Executive Summary
Newmark is pleased to present the opportunity to acquire the 100% fee simple interest in a STNL building located at 1271 Yankee Doodle Road, Eagan, MN (the "Property").
The Tenant has a 15-year lease which commenced on April 8, 2023, featuring an attractive rent schedule with rent increases of 10% every five years. The lease is guaranteed by the Tenant's parent company. The lease does not allow the use of the Tenant's name for marketing purposes.
The Tenant executed a sublease with Acme Electric Motor, Inc., d/b/a Acme Tools, in September 2024 under the same terms and conditions as prescribed in the primary lease. Acme Tools, as subtenant, is presently completing the tenant improvements outlined in the sublease. Acme Tools will commence paying rent to the Sublandlord on April 1, 2025. The Tenant will pay rent to the property owner, and it should be noted, the Tenant has timely made all rent payments due under the lease.
The Tenant has a 15-year lease which commenced on April 8, 2023, featuring an attractive rent schedule with rent increases of 10% every five years. The lease is guaranteed by the Tenant's parent company. The lease does not allow the use of the Tenant's name for marketing purposes.
The Tenant executed a sublease with Acme Electric Motor, Inc., d/b/a Acme Tools, in September 2024 under the same terms and conditions as prescribed in the primary lease. Acme Tools, as subtenant, is presently completing the tenant improvements outlined in the sublease. Acme Tools will commence paying rent to the Sublandlord on April 1, 2025. The Tenant will pay rent to the property owner, and it should be noted, the Tenant has timely made all rent payments due under the lease.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Supermarket
Building Size
42,570 SF
Building Class
B
Year Built
2022
Price
$14,000,000
Price Per SF
$329
Cap Rate
6.72%
NOI
$940,800
Tenancy
Single
Building Height
1 Story
Building FAR
1.23
Lot Size
0.79 AC
Zoning
Commercial
Parking
129 Spaces (3.03 Spaces per 1,000 SF Leased)
Frontage
264 FT on Yankee Doodle Rd
Amenities
- Corner Lot
- Mezzanine
- Signalized Intersection
Bike Score ®
Very Bikeable (73)
Nearby Major Retailers
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1271 Yankee Doodle Rd
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