$1,950,391 USD
909-348-2407
229 Carson St NW
Elk River, MN 55330
Clemens & Munsinger Gardens
HIGHLIGHTS
- Absolute NNN lease with zero landlord responsibilities and 2% annual rent increases.
- Personal guarantee — absolute, unconditional, and irrevocable, beyond the tenant entity.
- Average household income exceeds $149,836 within a 5-mile radius.
- Direct Highway 101 access with traffic counts exceeding 53,840 vehicles per day.
- 18-year operating history demonstrating long-term site performance and market viability.
- 7% percentage rent provision above a defined sales breakpoint for income upside.
FOR SALE DETAILS
PRICE
$1,950,391 USD
PRICE/SF
$1,129 USD /SF
CAP RATE
6%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Sonic
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Fast Food
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2008
SPRINKLERS
-
PARKING SPACES
30
LAND DETAILS
LAND ACRES
0.88 AC
LAND SF
38,333 SF
ZONING
-
APN/PARCEL ID
75-802-0105
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909-348-2407
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909-348-2407
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