5990 Neal N Ave Stillwater, MN 55082-2178

Property Details for 5990 Neal N Ave

Year built

1999

Lot size

1.10 lot acres

Property size

4,237 SF

Property type

Drive through restaurants

APN

06-029-20-11-0014

APU

602920110014

Description

This exceptional investment opportunity presents the fee simple ownership of a 4,337 square foot Arby's restaurant with a drive-thru, located at 5990 Neal Ave N, Stillwater, MN 55082 (Oak Park Heights, Washington County). The property sits on a 1.39-acre lot and includes 62 parking spaces. Built in 1999, this single-tenant property boasts a 100% occupancy rate with a corporate-guaranteed Absolute NNN lease. The current lease, commencing February 20, 2001, and expiring December 31, 2031, has approximately 7.1 years remaining, with two 5-year renewal options. Each option includes an 8% rent increase at the beginning of the term. The current asking price is $1,750,000, representing a price per square foot of $403.50 and a 5.52% cap rate. The property generates a Net Operating Income (NOI) of $96,600. The property benefits from its strategic location near major roadways, including State Highway 36 (40,500 vehicles per day), and is surrounded by strong national retailers such as Walmart, Target, Lowe's, and T.J. Maxx, as well as numerous residential communities. The 5-mile trade area boasts over 142,000 residents and 24,000 daytime employees, with an average household income exceeding $142,211. This property offers a management-free investment opportunity with built-in rent growth, making it an ideal addition to any portfolio. The property's APN is 06-029-20-11-0014 and is zoned for commercial use.

Location Insight

City

Stillwater

County

Washington

State

Minnesota

Longitude

-92.8458

Latitude

45.035

CBSA code

33460

CBSA name

MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments