PetSuites - Plymouth, MN
Retail-Commercial
for Sale
Sale Pending
| Catylist Listing ID: |
30819672 |
| Property Subtypes: |
Free-Standing Building, Street Retail
|
| Status: |
Pending |
| Building Size (RSF): |
15,079 SF
|
| Sale Price: |
$5,225,300 |
| Unit Price: |
$346.53 PSF |
| Property Use Type: |
Net Leased Investment (NNN), Investment |
| Sale Terms: |
Undisclosed |
| Cap Rate: |
5.85% |
| Average Occupancy Rate: |
100 |
| Last Updated: |
7/22/2024 |
Overview / Comments
Qualified investors are extended the opportunity to acquire a 100.0% fee simple interest in a new 20-year absolute net lease PetSuites prominently located in the heart of Plymouth, MN off Highway 169 and Highway 55.
Fully guaranteed by National Veterinary Associates (NVA), the original lease term is twenty (20) years with no termination rights and 10% rental increases every five (5) years throughout the primary term and renewal options. The lease has no landlord responsibilities; the offering is a completely passive real estate investment.
The site is located at the northwest quadrant of Highway 169 and Highway 55. The location of the site is prime and desirable and serves as a billboard to 90,000 VPD traveling the Highway 169 corridor and where several major roadways converge.
The immediate area is surrounded by dense, affluent residential communities and the strongest performing office submarket in the metro area.
|
Current Tenants
| Tenant Business Name |
PetSuites |
| Website URL |
www.petsuitesofamerica.com |
| Year Founded |
1996 |
| Suite Number |
1 |
| SF of Space Occupied |
15,079 SF |
| Current Rent |
$305,680 PSF (Annual) |
Additional Details
| Nearest MSA: |
Minneapolis-St. Paul-Bloomington |
| County: |
Hennepin |
| Tax ID/APN: |
3611822140024 |
| Zoning: |
COMMERCIAL |
| Retail Clientele: |
General, Family, Business, Traveler |
| Property Located Between: |
HWY 169 & I-55 |
| Largest Nearby Street: |
Highway 169 |
| Traffic/Vehicle Count: |
88,000 |
| Highway Access: |
Site offers unparalleled visibility to Highway 169 and is highly accessible: 8 miles west of downtown Minneapolis, 5 minutes from Golden Valley, 7 minutes from St. Louis Park, and 10 minutes from Maple Grove. |
| Area Description: |
Over 240,000 people live within a 5-mile radius of the site with an average household income of $110,000. The immediate area is surrounded by dense, affluent residential communities and the strongest performing office submarket in the metro area. |
| Tenancy: |
Single Tenant |
| Total Number of Buildings: |
1 |
| Number of Stories: |
1 |
| Typical SF / Floor: |
15,079 SF |
| Property Condition: |
Excellent |
| Year Renovated: |
2022 |
| Parking Type: |
Surface |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
8,776 |
89,239 |
295,845 |
| Median Age: |
40.52 |
39.85 |
38.48 |
| Households: |
3,927 |
39,618 |
126,339 |
|
© Copyright 2024 Moody's. All Rights Reserved.
The information presented herein is provided as is, without warranty of any kind.
Neither Kentucky Commercial Real Estate Alliance nor
Moody's assume any liability for errors or omissions.
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