3801-3809 Marketplace Dr NW - Freestanding FOR SALE
Rochester, MN 55901 |
3801-3809 Marketplace Dr NW
Rochester, MN 55901
HIGHLIGHTS
- 100% Occupied, 8,780 SF Target-Shadowed 4-Tenant Retail Strip in Rochester, MN
- Top Performing Target Shadow-Anchor: Top 4% Nationally (#68 of 1,807 Stores) and Top 12% in Minnesota (#6 of 68 Stores)
- Spectrum, Leann Chin & Potbelly Each Have 8-10% Rent Increases in 2024, Increasing NOI by $26,347; Adds 51 bps to CAP Rate (7.01% CAP in 2024)
- Ease of Management with Only 4 Tenants – Self- Managing Property Could Add $22,412 Annually to Cash Flow (45 bps to CAP)
- 2024 Rent Increases Plus Self-Managing Property Adds 95 BPS to CAP Rate in Year 2 of Ownership; 7.45% CAP Potential
- All Tenants Leased to NNN Terms – 107% Recovery of Landlord Operating Costs via Full Tax/CAM/Ins/ Mgmt Reimbursement, plus 5-20% Admin Fees
FOR SALE DETAILS
PRICE
-
CAP RATE
-
% LEASED
-
TENANCY
-
BUILDING DETAILS
PROPERTY NAME
Spectrum Strip | Top 4% Target Shadow Strip
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
ADD'L SUBTYPES
Restaurant, Storefront
TOTAL BUILDING SIZE
8780
STORIES
1
YEAR BUILT
2018
SPRINKLERS
-
PARKING SPACES
60
LAND DETAILS
LAND ACRES
-
LAND SF
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ZONING
-
APN/PARCEL ID
74.21.11.084260
