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Views: 117 Updated: 03.03.24 Posted: 12.23.22 Status: Inactive 03.04.24

Summary

Price $2,270,000
Built/Renov 2004
Tenant Arby's
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Corp Rated
Size/SF 49,714
Lease Start 12-21-2004
#Units 3,401
Price/SF $45.66
Expiration 12-31-2034
Tenant Type Fast Food/QSR
NOI $119,180
R. Term 10.3
Ownership Fee Simple
Rent/SF $2.40
Increases 1.0%/1/yrs
Pop 5Mi 25,381
Lot/AC 1.14
Options 4/5yrs/1%
AHHI 5Mi $114,312

Lease Highlights

  • Arby’s has been operating at this location since 2004
  • The tenant has approximately 12 years remaining in their current lease term, with 4 (5-year) options to extend
  • Lease offers 1% annual increases throughout the initial term and option periods
  • Absolute NNN with zero landlord responsibilities
  • Lease is guaranteed by a subsidiary of the corporate entity Franchise Associates, LLC

Location Description

The site is strategically located off State Highway 3, a heavily traveled commuter freeway serving the Minneapolis MSA, with an average of 22,400 vehicles passing by daily. Furthermore, the site benefits from a large pylon sign, creating excellent visibility, and multiple points on ingress/egress. Located within a dense retail corridor, the property is ideally situated across from Target with...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Arby's
  • Guarantor:Corp Rated
  • Company:Franchise Associates, LLC
  • # Units:3,401
  • Tenant S&P: B+
  • Moody’s: B2
  • Stock:Private

About Tenant

Arby’s is an American fast food sandwich restaurant chain and the first nationally franchised sandwich restaurant brand. Arby’s is the second-largest quick-service sandwich chain in the U.S.....


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Demographics

  1 Miles 3 Miles 5 Miles
2027 Total Population : 4,173 24,090 25,652
2022 Total Population : 4,107 23,828 25,381
2022 Employed Civilian Pop : 2,381 13,421 14,258
2022 Total Businesses : 178 774 837
2022 Average Household Income : $ 107,367 $ 111,518 $ 114,312
2022 Total Consumer Spending : $ 157 M $ 736 M $ 814 M
2022 Median Age : 38 32 33
2022 Total Households : 1,706 7,758 8,371
2022 Pop Age 25+: Bachelor's Degree : 667 3,460 3,763
2022 Average Home Value : $ 289,298 $ 293,294 $ 302,308
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Cannon Ln 2nd Ave NW 2016 1,150 0.26 mi
Jefferson Rd Heritage Dr 2016 3,050 0.27 mi
110th St E Stafford Rd 2016 4,000 0.29 mi
Co Rd 1 Schilling Dr 2016 3,350 0.32 mi
110th St E Jefferson Rd 2006 3,787 0.35 mi
Cannon Rd Riverview Dr 2016 860 0.36 mi
Co Rd 1 Riverview Dr 2006 3,384 0.42 mi
Riverview Dr Bollenbacher Dr 2016 1,650 0.44 mi
Jefferson Rd Hidden Valley Rd 2006 3,329 0.47 mi
State Hwy 3 Riverview Dr 2016 16,100 0.54 mi

Listing Broker

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