140 Garfield St N
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140 Garfield St N
5,801 SF Retail Building Cambridge, MN 55008 $2,300,000 ($396/SF)
Investment Highlights
- Former Strong Performing Perkins (Well Above National Average)
- Great Visibility and Access Off From Highway 65
- High Traffic - Approximately 21K Vehicles Per Day
- Three Parcels Totaling 3 Acres +/-
- Two Existing Pylon Signs
- Kitchen Equipment Available - Not Included in Purchase
Executive Summary
Marcus & Millichap is pleased to present this former Perkins property available for purchase. Operating as a Perkins for many years until the operator recently retired, the location was consistently a strong performing Perkins with sales well above the national average.
The property being offered consists of three parcels totaling approximately 2.87-3 acres. The parcels are zoned B-2, however there is currently a PUD (Planned Unit Development) on the parcel with the existing building on it that restricts it's usage to restaurant use only for now. B-2 zoning on the back parcel allows for a wide array of potential uses. For reference parcel #'s 15.137.0010, 15.137.0020 and 15.137.0030 are included. Seller would prefer to sell all
parcels together but will entertain offers to sell separately.
The property is ideally situated on a hard corner of Highway 95 and Highway 65 with approximately 21,000 vehicles per day passing directly in front of the property. In addition the 60'+ tall pylon sign is visible by traffic from both directions on Highway 95.
Population counts are projected to grow by approximately 4% by 2026. Household income within a 5-mile radius of the property is strong with the average HH income being $101,950.
The property is located within close proximity to many national or regional retailers such as Walmart, Walgreens, Starbucks, Tractor Supply, Target, Wendy's, Aldi, Autozone, McDonalds, Arby's, Culver's, Subway, Speedway, Applebee's and more.
Buyer is solely responsible for verifying property and building size along with zoning classification and requirements.
The property being offered consists of three parcels totaling approximately 2.87-3 acres. The parcels are zoned B-2, however there is currently a PUD (Planned Unit Development) on the parcel with the existing building on it that restricts it's usage to restaurant use only for now. B-2 zoning on the back parcel allows for a wide array of potential uses. For reference parcel #'s 15.137.0010, 15.137.0020 and 15.137.0030 are included. Seller would prefer to sell all
parcels together but will entertain offers to sell separately.
The property is ideally situated on a hard corner of Highway 95 and Highway 65 with approximately 21,000 vehicles per day passing directly in front of the property. In addition the 60'+ tall pylon sign is visible by traffic from both directions on Highway 95.
Population counts are projected to grow by approximately 4% by 2026. Household income within a 5-mile radius of the property is strong with the average HH income being $101,950.
The property is located within close proximity to many national or regional retailers such as Walmart, Walgreens, Starbucks, Tractor Supply, Target, Wendy's, Aldi, Autozone, McDonalds, Arby's, Culver's, Subway, Speedway, Applebee's and more.
Buyer is solely responsible for verifying property and building size along with zoning classification and requirements.
Property Facts Under Contract
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,801 SF
Building Class
B
Year Built
1999
Price
$2,300,000
Price Per SF
$396
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
1.27 AC
Parking
40 Spaces (6.9 Spaces per 1,000 SF Leased)
Frontage
244 FT on Garfield St N
Amenities
- Pylon Sign
- Signage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $569,800 | |
| Land Assessment | $555,400 | Total Assessment | $1,125,200 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$555,400
Improvements Assessment
$569,800
Total Assessment
$1,125,200
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140 Garfield St N
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