About This Restaurant
Investment Highlights
The only Perkins Restaurant in the city of Rochester allowing for 100% market share of the roughly 150,000 people in the Rochester market. Perkins corporate guarantees the lease, providing substantial backing behind all lease obligations. Centrally located on Broadway Ave. with many national retailers. Tenant operates under an Absolute NNN lease and is responsible for all maintenance and repairs, property taxes, and insurance. Located within ? a mile of 9 hotels/motels providing a built-in consumer base. This store ranks in the 91st percentile in Minnesota and nationally, further solidifying Perkins success and profitability at this location.
Executive Summary
BROKER OF RECORDKURT SAUERLicense No. 40841921 (MN)
Property Details
- Sale Type Investment
- Property Type Retail
- Property Subtype Restaurant
- Building Size 5,232
- Building Class C
- Year Built 2003
- Price 2,450,000
- Price Per SF 468
- Cap Rate 7.14
- NOI 174,930
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.11
- Land Acres 1.09 AC
Nearby Amenities & Transportation
| Retail | Perkins | ||
| Retail | Green Mill Restaurant & Bar | ||
| Retail | Scooter's Coffeehouse | ||
| Retail | Maid-Rite | ||
| Retail | ALDI | ||
| Retail | Outback Steakhouse | ||
| Retail | Denny's | ||
| Retail | Starbucks | ||
| Retail | Hy-Vee | ||
| Retail | Buffalo Wild Wings |
Property Taxes
| Parcel Number | 64.11.44.008313 | Improvements Assessment | $472,900 |
| Land Assessment | $1,210,500 | Total Assessment | $1,683,400 |
| Date Created: | 2024-07-16 04:16:20 | Last Updated: | 2024-07-16 04:16:20 |
| Address: | 1818 S Broadway , Rochester, Minnesota, 55904 | ||