Absolute Net Build to Suit PetSuites Minneapolis MSA
815 U.S Highway 169, Plymouth, MN, USA Map
Listing Price $5,393,000
| Status | Active |
| Lease Type | Absolute Net |
| Property Type | Retail |
| CAP Rate | 5.6% |
| GLA (Sq. Ft.) | 15,079 |
| NOI | $302,000 |
| Lease Term Remaining | 20 |
| Increases | 10% Every 5 Years |
| Options | 5 x 5 Years |
| State (BOR) | MN |
| Broker of Record | Jon Ruzicka |
| License # (BOR) | 40583288 |
Investment Highlights
- Subject is a Prime 15,079 Square-Foot Build-to-Suit
PetSuites on a 1.12-Acre Lot with Ample Parking, Pylon
Signage, and Easy Ingress/Egress - Absolute NNN Lease with a 20-Year Base Term and Zero
Landlord Responsibility | 10% Rental Increases Every 5 Years
Including Options - Tenant PetSuites (JAB Holdings) Currently Features a Stable
Credit Rating of Baa2 (Stable) from Moody’s and BBB+
(Stable) from S&P - Well Established Retail Corridor | Nearby National Retailers
Include: Caribou Coffee, Starbucks, Culver’s, Home
Depot, Advance Auto Parts, Wells Fargo, Firehouse Subs,
McDonald’s, and More - Affluent Community with an Average Household Income of
Over $116,000 Within Five Miles of the Subject Asset, as of
2022 - Subject is Six Miles From Downtown Minneapolis, with a
Population of 424,536 and has Robust Traffic Counts on
Kilmer Road (78,387 VPD) and US Hwy 169 (77,647 VPD)
(Source: LandVision, CoStar, 2022) - Subject is 20 Miles from Minneapolis-Saint Paul
International Airport, Serving 25 Million Passengers Annually
(www.mspairport.com) - Parks and Outdoor Recreational Facilities Nearby Include:
Medicine Lake, Golden Valley Country Club, Clifton E. French
Park, Eloise Butler Wildflower Garden, Cedar Lake, and Many
Others
