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Popeyes | Oak Park Heights, MN 13523 60th St

5,544 SF Retail Building Oak Park Heights, MN 55082 $1,905,000 ($344/SF) 5.25% Cap Rate

Investment Highlights

  • New Construction Single-Tenant Popeyes with Drive-Thru; Outparcel to The Shoppes of Oak Park Heights, a Kohl’s Anchored Neighborhood Center
  • Highest Demand Retail Intersection in Submarket: At Hwy 36 and Norell Avenue with a combined traffic count of 41,000+ CPD
  • Oak Park Heights is Part of the Twin Cities MSA, One of the Strongest Midwest Economies
  • 20-Year Absolute NNN Ground Lease; 19 Years Remaining | 10% Increases Every 5 Years | New Construction; Latest Popeyes Prototype
  • Affluent Demographics in a Sought-After Market: Located in Oak Park Heights, outside of Stillwater, a highly sought-after submarket of the Twin Cities

Executive Summary

20-Year Absolute NNN Ground Lease | 10% Increases Every 5 Years | Below Market Rent

Property Facts

Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Fast Food
Building Size
5,544 SF
Building Class
B
Year Built
2022
Price
$1,905,000
Price Per SF
$344
Cap Rate
5.25%
NOI
$100,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Land Acres
0.88 AC

Amenities

  • Signalized Intersection

Nearby Major Retailers

Noodles & Company
Perkins Restaurant & Bakery
Starbucks
Caribou Coffee
U.S. Bank
Applebee's
Bank of America
Kowalski's Markets
Farrell's Extreme Bodyshaping
Cub Foods

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
05-029-20-21-0042
Land Assessment
$498,600
Improvements Assessment
$0
Total Assessment
$498,600
  • Listing ID: 33223834

  • Date on Market: 9/18/2024

  • Last Updated:

  • Address: 13523 60th St, Oak Park Heights, MN 55082

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