4405 Pheasant Ridge Dr NE | Blaine, MN 55449
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4405 Pheasant Ridge Dr NE
Blaine, MN 55449
At Home · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Long-Term Absolute NNN Lease
- Large Parcel within Power Shopping Center
- Attractive Annual Rent Increases
- Expanding National Retailer
EXECUTIVE SUMMARY
Northmarq is pleased to offer for sale to qualified investors the opportunity to purchase a fee simple ownership interest in the At
Home property located in Blaine, Minnesota (the “Property”). The Property consists of a 145,471-square-foot freestanding retail
building on a 16.06-acre parcel of land. At Home is operating under an absolute NNN lease with zero landlord responsibilities
whatsoever and 10 years of base lease term remaining, offering a truly passive investment asset with long-term cash flows. The lease
also features 2.00% annual rent escalations throughout the base term and four option periods, providing investors with a boost to the
overall investment yield plus a hedge against inflation. See Lease Abstract for full details.
Home property located in Blaine, Minnesota (the “Property”). The Property consists of a 145,471-square-foot freestanding retail
building on a 16.06-acre parcel of land. At Home is operating under an absolute NNN lease with zero landlord responsibilities
whatsoever and 10 years of base lease term remaining, offering a truly passive investment asset with long-term cash flows. The lease
also features 2.00% annual rent escalations throughout the base term and four option periods, providing investors with a boost to the
overall investment yield plus a hedge against inflation. See Lease Abstract for full details.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Department Store
Building Size
145,471 SF
Building Class
A
LoopNet Rating
4 Star
Year Built/Renovated
2001/2016
Price
$12,573,000
Price Per SF
$86
Cap Rate
8.50%
NOI
$1,068,705
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
3 Exterior
Building FAR
0.21
Lot Size
16.06 AC
Zoning
PBD Retail
Parking
350 Spaces (0.84 Spaces per 1,000 SF Leased)
Frontage
1,361 FT on Pheasant Ridge Dr NE
AMENITIES
- Corner Lot
- Freeway Visibility
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $8,336,300 | |
| Land Assessment | $3,712,000 | Total Assessment | $12,048,300 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$3,712,000
Improvements Assessment
$8,336,300
Total Assessment
$12,048,300
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