Northfield, MN - Big O Tires

1470 Clinton Lane, Northfield, MN

$2,552,000

Price

6,359 sqft

Building Size

0.6 acres

Lot Area

Overview
Building Size
6,359 sqft
Lot Area
0.6 acres
Occupancy
100%
Year Built
2006
Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN lease, freestanding, corporate guaranteed, Big O Tires investment property located in Northfield, MN. The tenant, NTW, LLC, has approximately 11 years remaining in the initial lease term and 1 (5-year, 11-month) and 2 (5-year) option periods to extend. The lease features 10% rental increases every 5 years throughout the initial term and scheduled increases during the option periods, steadily growing NOI and hedging against inflation. The lease is guaranteed by TBC Corporation, the corporate entity of Big O Tires and several other automotive service brands, which has more than 3,200 franchised and company-operated locations nationwide. The lease is also absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity.

The Big O Tires is located near the signalized, hard corner intersection of State Highway 3 and Jefferson Parkway. State Highway 3 (16,100 VPD) is a north/south commuter thoroughfare for the city of Northfield, providing direct access to Minneapolis approximately 50 miles to the north. Moreover, this route is the primary retail corridor for the city and includes national/credit tenants Target, Cub Foods, ALDI, Menard’s, Walgreens, Anytime Fitness, and more, increasing consumer draw to the general trade area. The site is also equipped with a large pylon sign for overall increased visibility, as well as 8 service bays and a retail store front. The 5-mile trade area is supported by a population of more than 25,100 residents and more than 10,100 employees with a healthy average household income of $87,215.


Location
Gallery