$4,200,000 USD
512-430-4466
18267 Carson Cir NW
Elk River, MN 55330
Clemens & Munsinger Gardens
HIGHLIGHTS
- MINNEAPOLIS–ST. PAUL MSA – Located within the nation’s 16th largest MSA and the second largest in the Midwest, Elk River
- STRONG POPULATION GROWTH – Elk River is a fast-growing Minneapolis suburb, with projected population increases of 9.3% within 1 mile and 10.1%
- LONG-TERM LEASE EXTENSION – In 2020, Walgreens executed a brand-new 15-year lease with 5% rent escalations every five years
- RENTAL ESCALATIONS – Walgreens benefits from rare rental escalations of 5% every 5 years, providing a built-in hedge against inflation
- NURSING HOME ADJACENT – Situated just 0.2 miles from Guardian Angels Care Center, a 120-bed skilled nursing facility
- AFFLUENT COMMUNITY – This Walgreens serves the high-income community of Elk River in Minneapolis’s northwest suburbs, where the average household
FOR SALE DETAILS
PRICE
$4,200,000 USD
PRICE/SF
$285 USD /SF
CAP RATE
7.5%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Walgreens
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Drug Store
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2007
SPRINKLERS
-
PARKING SPACES
71
LAND DETAILS
LAND ACRES
1.76 AC
LAND SF
76,666 SF
ZONING
C3
APN/PARCEL ID
75-759-0125
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512-430-4466
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512-430-4466
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