2000 Vermillion St - Restaurant FOR SALE


Hastings, MN 55033- Outlying Hastings
$1,994,000 USD
917-336-9067
2000 Vermillion St, Hastings, MN for Sale
$1,994,000 USD
Restaurant - FOR SALE
1/5
null | 8.5% Cap Rate

2000 Vermillion St
Hastings, MN 55033
Outlying Hastings


HIGHLIGHTS

  • 2 Years Remaining | Options To Extend | Rental Increases
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Strong Frontage On Vermillion St | Excellent Visibility & Access
  • Dense Retail Corridor | Strong Retail Synergy
  • Strong Demographics In 5-Mile Trade Area | $117K+ AHHI

OVERVIEW

• There are approximately two (2) years of primary lease term remaining with four (4) additional 5-year renewal options, providing stable in-place income and long-term extension potential • Rent increases at the beginning of each option period by the greater of 10%or 95% of Fair Market Value (FMV), supporting NOI growth and providing a built-in hedge against inflation

FOR SALE DETAILS

PRICE

$1,994,000 USD

PRICE/SF

$364 USD /SF

CAP RATE

8.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Applebee's | Absolute NNN

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1996

SPRINKLERS

-

PARKING SPACES

97

LAND DETAILS

LAND ACRES

1.3 AC

LAND SF

56,628 SF

ZONING

C-3

APN/PARCEL ID

19-81700-02-030,19-81700-02-053

ASK ABOUT THIS PROPERTY

Nick SantagataSRS National Net LeaseMore Info
917-336-9067

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Nick SantagataSRS National Net LeaseMore Info
917-336-9067

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.