Perkins 7520 University Ave NE 4,974 SF Retail Building Fridley, MN 55432 $2,576,266 CAD ($517.95 CAD/SF) 7% Cap Rate
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 7520
University Ave NE in Fridley, MN. The site consists of roughly 4,974 rentable square
feet of building space on estimated 1.75-acre parcel of land. This Perkins is subject to
a 20-year absolute triple-net (NNN) lease, which will commence at the close of
escrow. The starting rent will be $130,000 and is scheduled to increase by 1.50%
annually throughout the base term and in each of the 4, 5-year renewal options.
University Ave NE in Fridley, MN. The site consists of roughly 4,974 rentable square
feet of building space on estimated 1.75-acre parcel of land. This Perkins is subject to
a 20-year absolute triple-net (NNN) lease, which will commence at the close of
escrow. The starting rent will be $130,000 and is scheduled to increase by 1.50%
annually throughout the base term and in each of the 4, 5-year renewal options.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,974 SF
Building Class
B
Year Built
1978
Price
$2,576,266 CAD
Price Per SF
$517.95 CAD
Cap Rate
7%
NOI
$180,339 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
1.75 AC
Frontage
299’ on NE University Ave
AMENITIES
- Pylon Sign
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 11-30-24-22-0028 | Improvements Assessment | $918,067 CAD |
| Land Assessment | $699,030 CAD | Total Assessment | $1,617,098 CAD |
