Take 5 | New 16yr Abs NNN | New Construction
1,750 SF | 4-Star Retail Building | Rochester, MN 55901 | $3,215,000 ($1,837/SF) | 6.50% Cap Rate
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $3,215,000
- Property Type
-
Retail
- Square Feet
- 1,750 SF
- Price / Square Foot
- $1,837
Listing Contacts
Jared Davis
Verified Profile
Matthew Mousavi
Verified Profile
Patrick Luther
Verified Profile
Kyle Zimmer
Verified Profile
- Property Info
Property Overview
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Take 5 investment property located in Rochester, Minnesota. The tenant, Ironside Operations, LLC recently signed a brand new 16 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. The newly-constructed building features a state-of-the-art design with high-quality materials. Take 5 Oil Change® has more than 800 company-owned and franchised service centers throughout the United States and Canada.
Property Details
- Class
- B
- Year Built
- 2024
- Stories
- 1
- Property Subtype
- Freestanding, Vehicle Related
- Lot Size (sq. ft)
- 49,658 SF
Highlights
- Brand New 16-Year Deal | Annual Rental Increases | Established Brand | New Construction
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Directly Across from Walmart Anchored Center | Dense Retail Corridor
- Signalized, Hard Corner Intersection | U.S Hwy 52 & 63 |Excellent Visibility
- Strong Demographics in 5-Mile Trade Area | Six-Figure Incomes
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