The Home Depot - Brooklyn Park, MN
$27,750,500
6701 Boone Avenue North, Brooklyn Park, MN 55428
6
Cap Rate
1,665,030
NOI
Details:
Highlights:
- Absolute NNN: Lease is structured to be incredibly passive with no landlord responsibilities.
- Full Depreciation Available: Lease is structured as to clearly define the absence of landlord obligations. The landlord constructed and owns the improvements, so the investor can take full depreciation. This tax advantage is rarely available in a traditional ground lease investment.
- Recent Lease Extension: Tenant executed a five-year extension through August 31, 2032, showing commitment to the site.
- Large, Growing Suburb: With a population of more than 82,000 people, Brooklyn Park is the eighth-largest city in Minnesota and the fourth-largest in the Twin Cities metropolitan area.
- Prime Location: With strong demographics, the subject property benefits from high visibility from Interstate 94/694 with over 111,000 vehicles per day. It is easily accessible at the Boone Avenue exit just east of U.S. 169. The store serves as the busy anchor of Park Place Centre, a rising shopping center featuring popular Toys For Trucks.
Description:
The Home Depot, Inc. (NYSE: HD) is the world’s largest home improvement
retailer. Founded in 1978, the first stores stocked 25,000 products, much
more than the average hardware store at that time. Today, with over 2,300
stores and over 470,000 associates across North America, the typical store
averages 104,000 square feet of indoor retail space and 24,000 square feet
of outdoor garden area, interconnected with an e-commerce business that
offers more than one million products for DIY customers and professional
contractors, plus the industry’s largest installation business for Do-It-For-Me
customers.
On December 31, 2025, The Home Depot reported total revenue of $164.7
billion, net income of $14.2 billion, and a market cap of $344.1 billion. The
Home Depot’s stock is traded on the New York Stock Exchange and is
included in the Dow Jones Industrial Average and Standard & Poor’s 500
Index. The Home Depot currently holds a Moody’s credit rating of A/Stable.
Location
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