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Zeekin

Sky Zone

198 Northtown Drive Northeast, Blaine, MN 55434

$3,890,000

Cap Rate 8.50%

Views: 34 DOM: 39 Updated: 11.08.24 Posted: 10.13.24 Status: Active 10.13.24

Summary

Price $3,890,000
Built/Renov 2019
Tenant Sky Zone
Cap Rate 8.50%
Lease Type Modified Gross
Guarantor Corporate
Size/SF 30,499
Lease Start 03-10-2018
#Units 300
Price/SF $127.55
Expiration 03-31-2028
Tenant Type Sport/Fitness
NOI $330,668
R. Term 3.4
Ownership Fee Simple
Rent/SF $10.84
Increases 4.7%/2/yrs
Pop 5Mi 225,672
Lot/AC 3.10
Options 2/5yrs/4.66%
AHHI 5Mi $106,436

Marc Mandel
Forged Real Estate
Contact

Steve Schrenk
Forged Real Estate
Contact

Lease Highlights

  • Sky Zone has 3+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 4.66% rental increases throughout the initial term and each option period
  • New thermoplastic polyolefin (TPO) roof installed in 2019
  • Corporate guaranteed lease

Location Description

Sky Zone is strategically located on Northtown Drive NE, with access to 31,500 vehicles passing by daily. The property sits approximately one mile from multiple major highways in the area including Highway 65 (58,000 VPD) and Highway 47 (31,500 VPD). It is also close to US-10, a major thoroughfare boasting 97,105 VPD. The Northtown Mall in Blaine ranks in the top 75th percentile of regional...

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Key Features

  • Build to suit

  • New roof

  • Dense retail corridor

  • Near major nationals

  • Shopping Ctr out-parcel

  • Highway close

  • Top 100 MSA

  • Strong demographics

  • Corporate Guarantee

  • Over 100 Units backed

    • ...

Links

Sky Zone Wikipedia Sky Zone Wikipedia Blaine, Minnesota Zip Code 55434 Broker Site Page

Documents

Download OM

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Sky Zone
  • Guarantor:Corporate
  • Company:Palladium Equity Partners
  • # Units:300
  • Stock:Private

About Tenant

Sky Zone is a company that operates indoor trampoline parks. Their typical trampoline parks consist of several trampoline courts, which have trampolines for floors and walls, with trampoline...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 8,426 78,990 235,681
2023 Total Population : 8,006 77,857 230,474
2023 Employed Civilian Pop : 4,219 40,876 123,550
2023 Total Businesses : 527 2,582 5,933
2023 Average Household Income : $ 86,333 $ 97,003 $ 104,261
2023 Total Consumer Spending : $ 238 M $ 2455 M $ 7612 M
2023 Median Age : 41 40 38
2023 Total Households : 3,210 29,475 85,031
2023 Pop Age 25+: Bachelor's Degree : 1,263 12,799 36,466
2023 Average Home Value : $ 329,719 $ 316,068 $ 331,408
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Northtown Drive Frontage Rd 2022 4,945 0.09 mi
Frontage Rd Maple St NE 2006 3,256 0.18 mi
85th Ave NW Springbrook Dr NW 2018 15,600 0.18 mi
Springbrook Drive Northwest 85th Ave NW 2021 7,258 0.19 mi
State Hwy 10 7th St NE 2016 17,700 0.26 mi
University Avenue Northeast Hwy 47 2018 15,000 0.26 mi
85th Ave NE TerRd NE 2016 2,250 0.27 mi
University Ave NE 2022 18,401 0.27 mi
University Ave NE Hwy 10 2016 15,500 0.28 mi
Terrace Rd NE 85th Ave NE 2016 2,000 0.30 mi

Listing Broker

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