55 Coon Rapids Blvd Coon Rapids, MN 55448
- Retail properties
- 5,000 SF
Current Use by Public Records
- IHOP / Breakfast Restaurant / American Restaurant
Property Details for 55 Coon Rapids Blvd
- Property size
- 5,000 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
Exceptional investment opportunity: a thriving IHOP restaurant in Coon Rapids, Minnesota, boasting a 5,000 square foot building on a 1.4-acre lot. This absolute NNN ground lease offers zero landlord responsibilities, with a remaining lease term of 3.8 years and a 6.00% cap rate. The property enjoys a prime corner location at the intersection of Highway 10 and Highway 47, benefiting from high traffic counts exceeding 20,000 vehicles daily. Located less than a mile from Northtown Mall, this established IHOP has operated successfully for 20 years, demonstrating strong tenant commitment, as evidenced by an early lease renewal. The property features ample parking and excellent signage. Coon Rapids exhibits robust demographics and consistent population growth, supported by the presence of major employers such as RMS Company, Mary T, Inc., HOM Furniture, John Roberts Company, and ECM Publishers. The asking price is $1,199,010, reflecting a 100% occupancy rate. This is a rare opportunity to acquire a stable, high-performing asset in a desirable location. The property's strong performance history, coupled with its strategic location and favorable lease terms, makes it an attractive investment for discerning buyers. The IHOP brand's established reputation and widespread recognition further enhance the property's value and long-term potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Coon Rapids
- County
- Anoka
- State
- Minnesota
- Longitude
- -93.2688
- Latitude
- 45.135
