Leased Restaurant with Long-Term
2000 Vermillion St Hastings, MN 55033
New
For Sale
$1,994,000
Restaurant property with about two years remaining on the primary lease and four additional five-year renewal options.
Days on Market2
Property Features for 2000 Vermillion St
General Information
- Standard status
- Active
- Property subtype
- Retail
Building Details
- Year Built
- 1996
Properties For Sale
at 2000 Vermillion St Contact us
Listing Agency:
(862) 373-0236
Listed By:
Nick Santagata
(862) 373-0236
Source:
Srsre
Added: Jul 22
Changed: Jul 23
Last Checked: Jul 23 at 4:17AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Nick Santagata
Investment Insights
Based on property information with market context.
Restaurant investment property located at 2000 Vermillion St in Hastings, MN.
The current lease has approximately two (2) years remaining on the primary term, along with four (4) additional five-year renewal options. Rent increases are scheduled at the beginning of each option period based on the greater of 10% or 95% of Fair Market Value (FMV), creating an option-period escalation tied to market rent levels.
This structure provides continued, in-place income through the remaining primary term and multiple opportunities for long-term extension under the stated renewal and rent increase terms.
The current lease has approximately two (2) years remaining on the primary term, along with four (4) additional five-year renewal options. Rent increases are scheduled at the beginning of each option period based on the greater of 10% or 95% of Fair Market Value (FMV), creating an option-period escalation tied to market rent levels.
This structure provides continued, in-place income through the remaining primary term and multiple opportunities for long-term extension under the stated renewal and rent increase terms.
Key Highlights
- Restaurant property built in 1996
- Approximately 2 years remaining on the primary lease
- Four additional 5‑year renewal options for potential long‑term extension
Property Analytics
Location Intelligence
Current Use by Public Records
Applebee's Grill + Bar
Restaurant
FAQs
What type of property is this?
Conventional restaurant - Restaurant property with about two years remaining on the primary lease and four additional five-year renewal options.
Where is this conventional restaurant located?
The property is located at 2000 Vermillion St Hastings, MN.
What is the asking price?
The asking price for this property is $1,994,000.
What are key features of this property?
This property features: Restaurant property built in 1996; Approximately 2 years remaining on the primary lease; Four additional 5‑year renewal options for potential long‑term extension
