About This Restaurant
Investment Highlights
20-Year Absolute Triple Net (NNN) Lease Attractive 1.5% Annual Rental Increases Passive Investment Offering a Long-Term Security of Cash Flow
Executive Summary
NNN Pro Group is pleased to present the exclusive listing for a Perkins located at 7520University Ave NE in Fridley, MN. The site consists of roughly 4,974 rentable squarefeet of building space on estimated 1.75-acre parcel of land. This Perkins is subject toa 20-year absolute triple-net (NNN) lease, which will commence at the close ofescrow. The starting rent will be $125,140 and is scheduled to increase by 1.50%annually throughout the base term and in each of the 4, 5-year renewal options.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Restaurant
- Building Size 4,974
- Building Class B
- Year Built 1978
- Price 1,925,231
- Price Per SF 387
- Cap Rate 6.50
- NOI 125,140
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.07
- Land Acres 1.75 AC
Amenities
- Pylon Sign
- Signage
Property Taxes
| Parcel Number | 11-30-24-22-0028 | Improvements Assessment | $488,600 |
| Land Assessment | $641,700 | Total Assessment | $1,130,300 |
| Date Created: | 2024-07-16 04:16:20 | Last Updated: | 2024-07-16 04:16:20 |
| Address: | 7520 University Ave NE , Fridley, Minnesota, 55432 | ||