Caribou Coffee | T-Mobile | Walgreens | Jimmy John’s

7940-7950 Penn Avenue South, Bloomington, MN

For Sale

Retail Strip Center

$14,428,180

Price

Overview

Cap Rate

NOI

$865,690.93

Building Size

22,520 sqft

Lot Area

2.26 acres

Occupancy

100%

Year Built

2006

Tenancy

Multiple

Offered by

Description

The Caribou Coffee/T-Mobile/Walgreens/Jimmy John’s Center is located in Bloomington, Minnesota, a suburb located approximately 10 miles south of downtown Minneapolis. This property is located in a trophy location along I-494 where traffic counts average 157,704 vehicles daily and situated across from Best Buy Corporate Headquarters Campus. The Center is 100% leased with 4 tenants including Corporate Walgreen’s, Caribou Coffee, T-Mobile, and a large 41-unit Jimmy John’s franchisee. Located on an outlot to Target and Hobby Lobby, other nearby tenants include Chick-Fil-A, Bank of America, McDonald’s, Huntington Bank, Kohl’s, TJMaxx, Petco, Fresh Thyme, and much more.
Drone Video: https://www.youtube.com/watch?v=TZsv8jx57lk

Highlights

The Caribou Coffee/T-Mobile/Walgreens/Jimmy John’s Center is 100% leased with 3 Corporate tenants including Caribou Coffee, T-Mobile, Walgreens, and a large 41-unit Jimmy John’s franchisee. All original tenants with multiple renewals.
Assumable financing: $5,186,532 @ 4.15% Interest Rate, 20 years fully amortizing through February, 15, 2035.
Low rent to sales.
Generational ownership location situated across from Best Buy Corporate Headquarters Campus, with 7,500+ employees and conveniently located off I-494 with daily traffic counts of 157,704 vehicles per day.
Located on an outlot to Target and Hobby Lobby with neighboring retailers such as Chick-Fil-A, Fresh Thyme, McDonald’s, Petco, TJMaxx, Kohl’s, Huntington Bank, Bank of America, Wendy’s and more.
Located only minutes from MSP International Airport, Mall of America, Southdale Mall, Galleria, and Downtown Minneapolis.
Exceptional demographics, with a 5-mile population of 240,340 and average household income over $143,000.
Bloomington is home to the iconic Mall of America, welcoming approximately 40 million visitors each year. The Mall offers over 500+ stores, along with a variety of attractions and entertainment. The MSP International Airport, named the Best Airport in North America for the second straight year through the Airports Council International program, is Delta Airlines 2nd Largest Hub and Sun Country Airlines Hometown Carrier.