Starbucks, Sprint and Leeann Chin
19171-19179 Freeport Ave
Elk River, MN 55330
SBUX | Sprint | LeeAnn | 100% Net Lease
Price $2,409,363 Occupancy 100%
Building Size 8,100 SF No. Stories 1
Price/SF $297.45 Tenancy Multiple
Property Type Retail Year Built 1999
Property Sub-type Free Standing Bldg Lot Size 65,340 SF
Property Use Type Net Lease Investment with 10+ years left on lease APN / Parcel ID 75-560-0305
Cap Rate 6.75% Parking Ratio 4.94 / 1,000 SF
The Kase Group is pleased to offer the opportunity to acquire the 100% leased shopping center in Elk River, MN. The property consists of roughly 8,100 square feet of building space leased to Starbucks, Sprint and Leeann Chin. The property benefits from sitting on a commercial thoroughfare surrounded by major retailers including Cub Supermarket and JoAnn Fabrics, and within close proximity to The Home Depot and Walmart Supercenter. Average daily traffic counts exceed 45,000 VPD on highway 169.
Elk River is a city in Sherburne County, Minnesota, about 34 miles northwest of Minneapolis. It is situated at the confluence of the Mississippi and Elk Rivers. The population was 22,974 at the 2010 census. It is the county seat. The city's population exceeded 20,000 as of year 2005. U.S. Highways 10 and 169 and State Highway 101 are three of the main routes in Elk River, and a station on the Northstar Commuter Rail line to downtown Minneapolis is located in the city. Elk River is located 33.2 miles northwest of Minneapolis and 37.4 miles southeast of St. Cloud.
NET LEASED OFFERING 100% LEASED THREE TENANT SHOPPING CENTER WELL SITUATED ON A MAJOR COMMERCIAL THOROUGHFARE DESIRABLE MINNEAPOLIS LOCATION OCCUPIED BY STRONG NATIONAL RETAILERS STRONG TRAFFIC COUNTS IN EXCESS OF 45,000 VPD
Financial Summary (Actual) Net Operating Income $162,632