Drive-Thru Equipped Retail
For Sale
Contact for pricing
5801 Brooklyn Blvd, Brooklyn Center, MN 55429
Corporate guaranteed, absolute NNN retail property in Brooklyn Center, MN.
Property Size14,662 SF
Price / SF$231.89
Days on Market1288
Property Features for 5801 Brooklyn Blvd
General Information
Standard status
Active
Size
14,662 SF
Total Parking Spaces
64
Property subtype
Retail
Zoning
PUD/C2: Planned Unit Development / Commerce
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$352,718
Building Details
Year Built
2005
Tenancy
Single
Listing Agency:
SRS Real Estate Partners Chicago
(312) 279-5345
Listed By:
Sean Lutz · License #IL 475132482
Source:
Crexi
Added: Feb 9, 2023
Changed: Aug 16
Last Checked: Aug 19 at 8:09PM
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 SRS Real Estate Partners Chicago
Investment Insights
Based on property information with market context.
This retail property is located at the signalized corner of Bass Lake Road and Brooklyn Boulevard in Brooklyn Center, MN, part of the Minneapolis - St. Paul MSA. The freestanding building, equipped with a drive-thru, is situated in a dense retail trade area near Brookdale Corner, Crystal Center, Shingle Creek Crossing, and other major shopping centers. Nearby national and credit tenants include Cub Foods, Walmart Supercenter, T.J. Maxx, LA Fitness, Sun Foods, Target, Marshalls, Starbucks, and AutoZone. The location benefits from high traffic volume, with 49,200 vehicles passing by daily at the intersection, and convenient access to Interstate 94 (134,000 VPD) and State Highway 100 (81,000 VPD). The property is also within walking distance of multiple apartment complexes, including Sonder House (127 units), Sonder Point (143 units), and Twin Lake North (276 units), providing a direct residential consumer base. The 5-mile trade area has over 314,100 residents and 126,600 daytime employees, with an average household income of $99,347. The property was formerly a CVS Pharmacy, and the lease is guaranteed by Grand St. Paul CVS, L.L.C. The tenant has 6+ years of firm term remaining. The lease is absolute NNN with zero landlord responsibilities.
Key Highlights
- Absolute NNN lease offering a management‑free, passive investment.
- Corporate guarantee by Grand St. Paul CVS, L.L.C. (S&P: BBB | NYSE: CVS) with 6+ years of firm term remaining.
- Located at a signalized, hard corner intersection with high traffic counts (49,200 VPD) and easy access to major interstates (I‑94: 134,000 VPD & Highway 100: 81,000 VPD).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$185,071
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,701,420
$3.7M
Cap Rate 7%
$2,643,871
$2.6M
Cap Rate 9%
$2,056,344
$2.1M
Market Conditions
NOI Build-Up for 14,662 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$263.9K $18.00/SF
− Vacancy
−$17.2K −$1.17/SF
EGI
$246.8K $16.83/SF
− OpEx
−$61.7K −$4.21/SF
NOI
$185.1K $12.62/SF
Area
Hennepin County, MN
Vacancy
6.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,701,420
Cap Rate 7%
$2,643,871
Cap Rate 9%
$2,056,344
Alternative Uses
Best Use
Specialty Retail
$2.64M
$2.31M – $3.08M
NOI $185,071 @ 7.0% cap · market cap 5.44%
Second Best
Retail
$2.32M
$2.03M – $2.70M
NOI $162,296 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$3.50M
$3.06M – $4.08M
NOI $244,863 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
813
Businesses Nearby
285k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 27%
Groceries 18%
Apparel 2%
Cub Foods
Groceries
51,991 visits/mo
0.2 miles
McDonald's
Dining
27,906 visits/mo
0.4 miles
Holiday Station Store
Shops & Services
22,997 visits/mo
0.3 miles
Five Below
Shops & Services
19,816 visits/mo
0.4 miles
Wendy's
Dining
18,082 visits/mo
0.3 miles
Demographics for 55429, MN
28,755
Population
10,529
Households
2.7
Avg Household Size
34
Median Age
24%
College-Educated
88%
High-School Grad
6.0 sq mi
ZIP Area
4,793
Density / Sq Mi
$66,661
Median Household Income
$40,255
Median Earnings
$1,253
Median Rent
$267,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Bodyadora — 3220 County Rd 10 #115, Brooklyn Center, MN 55429
- CVS — 5801 Brooklyn Blvd, Brooklyn Center, MN 55429
- CVS Pharmacy — 5801 Brooklyn Blvd, Brooklyn Center, MN 55429
- Cub Pharmacy — 3245 County Rd 10, Brooklyn Center, MN 55429
- Icey Bodies — 6211 Brooklyn Blvd, Brooklyn Center, MN 55429
Frequently Asked Questions
What type of property is this?
Drug store - Corporate guaranteed, absolute NNN retail property in Brooklyn Center, MN.
Where is this drug store located?
The property is located at 5801 Brooklyn Blvd Brooklyn Center, MN.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: Absolute NNN lease offering a management‑free, passive investment.; Corporate guarantee by Grand St. Paul CVS, L.L.C. (S&P: BBB | NYSE: CVS) with 6+ years of firm term remaining.; Located at a signalized, hard corner intersection with high traffic counts (49,200 VPD) and easy access to major interstates (I‑94: 134,000 VPD & Highway 100: 81,000 VPD).
