Caribou Coffee "Cabin" Hermantown, MN

$1,543,000

5601 Miller Trunk Highway, Duluth, MN 55811

For Sale

Retail Free Standing

Active

Last Updated: 04/17/2025

Details:

Cap Rate: 7%

NOI: $108,000

Building Size: 625 sqft

Lot Area: 1.13 sqft

Occupancy: 100%

Lease Type: Triple Net

Year Built: 2023

Tenancy: Single

Offered by

Aj Prins

First Vice President

CBRE Retail Capital Markets @ Minneapolis

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Sean Doyle

First Vice President

CBRE Retail Capital Markets @ Minneapolis

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Highlights:

New Drive-Thru Small Format “Cabin” Concept
Caribou Coffee signed a 10-year lease with an attractive 10% rent increase in Year 6 and in each option period.
The building is new construction built-to-suit according to Caribou Coffee’s specifications.
In the fall of 2021, Caribou Coffee merged with Panera Bread and Einstein Bros. Bagels to form Panera Brands
Minnesota has the highest concentration of Caribou Locations nationally
Property is Located in Close Proximity to Big Box Retail Traffic Drivers
Located Immediately Adjacent to the Duluth International Airport

Description:

CBRE is exclusively offering for sale the fee simple interest to a new construction, free standing, Caribou Coffee located in Hermantown (Duluth), MN. Caribou Coffee is the dominant regional coffee brand with more locations throughout the state of Minnesota than both Starbucks and Dunkin Donuts combined. The cities of Hermantown & Duluth have a population in excess of 90,000.