Building Details

Year Built 1998

Buildings 1

Tenancy Single

Listing Agency: Upland Real Estate Group Inc

Listed By: Deborah Vannelli · License #MN 20103724 Show Phone

Source: Crexi

Added: Apr 24, 2024 Changed: Oct 9 Last Checked: Oct 16 at 6:09AM

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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 Upland Real Estate Group Inc

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Investment Insights

Based on property information with market context.

This single-tenant Big O Tires store is located in Chaska, MN. The property is currently dark but paying full rent without abatement, operating under an absolute NNN lease with zero landlord responsibilities. The lease is guaranteed by the TBC Corporation and features 10% rental increases every 5 years. The property offers a redevelopment or value-add opportunity for investors. The property size is 4809 square feet.

Key Highlights

• Absolute NNN Lease with ZERO Landlord Responsibilities, Guaranteed by TBC Corporation
• Currently dark but paying full rent without abatement
• 10% rental increases every 5 years

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$59,230

Cap Rate

3.36%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,184,600 $1.2M

Cap Rate 7%

$846,143 $846.1K

Cap Rate 9%

$658,111 $658.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,809 SF

Gross rent

$91.2K $18.96/SF

− Vacancy

−$6.6K −$1.37/SF

EGI

$84.6K $17.59/SF

− OpEx

−$25.4K −$5.28/SF

NOI

$59.2K $12.32/SF

Area

Carver County, MN

Vacancy

7.20%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,184,600

Cap Rate 7%

$846,143

Cap Rate 9%

$658,111

Alternative Uses

Best Use

Retail

$846.1K

$740.4K – $987.2K (±1% cap)

NOI $59,230 @ 7.0% cap · market cap 3.36%

Second Best

Industrial

$746.3K

$653.1K – $870.7K (±1% cap)

NOI $52,244 @ 7.0% cap · market cap 2.96%

Theoretical Best

Office A

$1.15M

$1.00M – $1.34M (±1% cap)

NOI $80,313 @ 7.0% cap · market cap 4.55%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Tavo's Carpet & Flooring ... Big Box & Wholesale Store

Suggested Use

Top Pick Real Estate Agency HVAC Service Electrical Service Hair Salon Bakery Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

167

Businesses Nearby

21k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 54% Dining 46%

Caribou Coffee Dining

7,960 visits/mo 0.2 miles

Speedway Shops & Services

5,308 visits/mo 0.1 miles

O'Reilly Auto Parts Shops & Services

2,096 visits/mo 0.0 miles

Valvoline Instant Oil Change Shops & Services

2,033 visits/mo 0.1 miles

Papa Murphy's Dining

1,782 visits/mo 0.2 miles

Demographics for 55318, MN

29,729

Population

11,453

Households

2.6

Avg Household Size

37

Median Age

47%

College-Educated

93%

High-School Grad

39.9 sq mi

ZIP Area

745

Density / Sq Mi

$111,781

Median Household Income

$63,293

Median Earnings

$1,430

Median Rent

$389,200

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Auto shop - Single tenant Big O Tires store in Chaska, MN for sale.

Where is this auto shop located?

The property is located at 1305 Crystal Lane Chaska, MN.

What is the asking price?

The asking price for this property is $1,765,000.

What are key features of this property?

This property features: Absolute NNN Lease with ZERO Landlord Responsibilities, Guaranteed by TBC Corporation; Currently dark but paying full rent without abatement; 10% rental increases every 5 years