Listed by Net Lease Realty Partners, Upland Real Estate Group Inc
$1,765,000
Big-O-Tires (TBC Corp) | Subleased | Redev Opp.
Details
APN 30-1370050
Property Type Retail
Sub Type Auto Shop
Square Footage 4,800
Cap Rate 7.43%
NOI $131,151
Occupancy 100%
Tenancy Single
Brand/Tenant Big O Tires, RE Tire II, LLC
Lease Type NNN
Lease Term 20
Lease Expiration 09/30/2030
Remaining Term 4.2
Rent Bumps Yes
Lease Options Three 5-Year w/ 10% Increases
Price per SqFt $368
Broker Co-Op Yes
Year Built 1998
Buildings 1
Acreage 0.670
Zoning PMD - Planned Multi-Use Development
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 10/01/2010
Occupancy Date 09/30/2010
Ownership Fee Simple
NNN Income Property with Upside Potential
Marketing description
Full Throttle Automotive is located along Crystal Lane and near Highway 212 where traffic counts average 39,500 vehicles per day. Nearby retailers include Caribou Coffee, Snap Fitness, United Sugars, Home Depot, Target, Kohl's, and much more. Chaska is in a county seat and ranked one of the Best Places to Live in Minnesota according to Niche.
Investment highlights
- • Low Asking Price of $1,765,000 @ 7.43% Cap Rate.
- • The property has been subleased to Full Throttle Automotive. Lease is guaranteed by TBC Corporation with over 2,000 locations.
- • The Hazeltine National Golf Club is located about 4 miles away from the property which is considered the Best Private Golf Club in Minnesota and has hosted multiple major golf championships. Hazeltine is the future site of the 2024 U.S. Amateur Championship, 2026 KPMG Women’s PGA Championship, and the 2029 Ryder Cup. Hazeltine is the only club in the country selected to host the Ryder Cup for a second time.
- • 4,800 square feet on 0.67 acres.
- • Nearby retailers include Speedway, Valvoline, Caliber Collision, McDonald’s, Holiday, Caribou Coffee, O’Reilly, Napa, etc.
- • Area retailers include Target, Home Depot, Kohl’s, Aldi, Starbucks, Walgreens, Arby’s, Chipotle, & more.
- • Excellent 5-mile average household income of $158,420 and 5-mile population of 101,367.
Listing Contacts
Listed by Net Lease Realty Partners, Upland Real Estate Group Inc
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$131,150.82
$10,929.24/mo
Valuation Metrics
0
DSCR
7.43%
Cap Rate
7.43%
ROI
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