Starbucks Two Tenant Retail
1315 Old W Main Street, Red Wing, MN, USA Map
Listing Price $2,590,000
| Status | Active |
| Lease Type | NNN |
| Property Type | Retail |
| CAP Rate | 8% |
| GLA (Sq. Ft.) | 5,533 |
| NOI | $207,106 |
| Lease Term Remaining | 10 Years |
| Increases | 10% Every 5 Years |
| State (BOR) | Jon Ruzicka |
| License # (BOR) | 40583288 |
Investment Highlights
- S&P Ratings: Tenant Starbucks (NASDAQ: SBUX) Currently
Features a Stable Credit Rating of BBB+ and a Rating of Baa1
From Moody’s. - Traffic Counts on Main Street (4,255 VPD), and Highway 61
(19,973 VPD), and Less than One Mile from Highway 63 (12,482
VPD) (Source: CoStar, 2022). - Nearby National Retailers Include: Target, T.J. Maxx, Slumberland,
Sherwin-Williams, Advance Auto Parts, Dollar Tree, Walgreens,
Arby’s, Taco Bell, McDonald’s, and Others. - Thriving Community with an Average Household Income of Over
$86K within Five Miles of the Subject Asset, as of 2022. - Subject is 47 Miles from Downtown Saint Paul with an MSA
Population of 3,712,020 (2023). - Subject is 49 Miles from Minneapolis-Saint Paul International Airport,
Serving Over 34 Million Passengers Annually (mspairport.com). - Parks and Outdoor Recreational Facilities Nearby Include: Espen
Island State Wildlife Area, Pierce County Islands State Hunting
Grounds, Red Wing Golf Course, Mississippi National Golf Links,
Spring Creek Prairie Natural Area, and More.
Investment Overview
Subject is a Recently Constructed 5,533 Square-Foot Two Tenant Retail Building with Starbucks on a .73-Acre Lot with Ample Parking and Easy Ingress/Egress at a Signalized Intersection. Net Lease with Just Under 10 Years Remaining for Starbucks and Approximately 2,400 Sq. Ft. Available with Consistent Interest From Suitors - Master Lease w/Current Owner For One Year at COE.
