Two Walgreen Property’s Sold As individual property or as a Package!

Two Walgreen Property’s Sold As individual property or as a Package

PROPERTY #1: 11401 N Marketplace Dr., Champlain, MN Terms: 60 year term: 3/19/1999 to 3/31/2059 (see termination options below) Ask Price: $3,757.114.00 Cap Rate @ 7% Current Base Rent: $21,916.50/mo. $262,998.00/year Percentage Rent Formula: Yes Modified NNN: Tenant pays RE taxes, building insurance, liability insurance, operating expenses, maintenance of parking areas (not capital expenses), maintenance (and replacement) of HVAC, plate glass and interior. Landlord pays for building exterior, parking area capital expenses and structural portions of the building, including the roof. Options: After the initial 20 years of the term, and every five years thereafter, Tenant has the right to terminate the term of the Lease with 6 months prior written notice. Next possible effective date of termination is March 31, 2029.

PROPERTY #2: 600 County Road 10, Blaine, MN Terms: 60 year term: 10/06/2000 to 10/31/2060 (see termination options below) Ask Price: $3,519,285.00 Cap Rate @ 7% Current Base Rent: $20,529.17/month $246,350.04/year Percentage Rent Formula: Yes Modified NNN: Tenant pays RE taxes, building insurance, liability insurance, operating expenses, maintenance of parking areas (not capital expenses), maintenance (and replacement) of HVAC, plate glass and interior. Landlord pays for building exterior, parking area capital expenses and structural portions of the building, including the roof. Options: After the initial 20 years of the term, and every five years thereafter, Tenant has the right to terminate the term of the Lease with 6 months prior written notice. Next possible effective date of termination is October 31, 2025. 

This is a Confidential Listing.  Do not discuss this property with employees or owner.  For more information or an appointment call: D.J. SIKKA (Cell) 612-701-6296

NOTICE:  Information provided by Seller.  Neither Restaurant Brokers of MN nor its Agents Guaranty its Accuracy or Comprehensiveness.

NOTE: Pictures, photos and images used on this webpage are not exact representations of this property! They have been chosen for content and color rather than as exact images of this property.

RBOMN

Restaurant Brokers of Minnesota, Inc.

Brokerage | Project Management | Property Management

Restaurant Brokers of Minnesota, Inc.

6010 Hwy. 7 | St. Louis Park | MN 55416

(952) 929-9273 T | (952) 922-1514 F

rbomn.com | restaurantsforsale.com | twitter.com/rbomninc