Plymouth, MN - Little Newton's

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Little Newton’s investment property located in Plymouth, Minnesota. The tenant, Little Newton’s, will sign an early extension at the close of escrow, bringing the term remaining to over 12 years with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features annual rental increases throughout the initial term and throughout each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

The Little Newton’s is located just off of State Highway 55, which averages over 39,500 vehicles passing by daily. State Highway 55 is the major retail thoroughfare serving the city of Plymouth. The Little Newton’s is located just a 16 minute drive (10 miles) from downtown Minneapolis. Additionally, the asset is located approximately 1.5 miles from Wayzata Sunset Hill Elementary School and Wayzata East Middle School. The asset is in a prime location to take advantage of the many large employers in the area such as Honeywell Aerospace, General Mills World Headquarters, Betty Crocker, Xenium, and Daikin, which all have significant footprints in the area. The property is in the center of a primary retail corridor with other nearby national/credit tenants including The Home Depot, McDonald’s, Starbucks, Orangetheory, Dollar Tree, Jimmy John’s, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 194,400 residents and 157,900 employees with an affluent average household income of $147,811.