Otsego MN 5533 88Th St Otsego, MN 55330

Property Details for Otsego MN 5533 88Th St

Year built

2024

Lot size

0.68 lot acres

Property size

1,693 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a brand-new, 1,693 square foot Starbucks located at the highly visible northeast corner of Parrish Ave NE and 88th St in Otsego, Minnesota. The property boasts a 10-year net lease with Starbucks Corporation, a globally recognized brand with an investment-grade credit rating. The lease, expiring May 31, 2034, includes four options and built-in rent escalations every five years, minimizing landlord responsibilities and offering significant long-term stability. The building, constructed in 2024, features high-quality materials and a modern design, perfectly complementing the Starbucks brand. Situated on a 0.68-acre lot, this location benefits from exceptional visibility due to its prominent corner location and proximity to MN-101, a major arterial roadway with a daily traffic volume of 52,000 vehicles. The property's strategic placement adjacent to a Target and a newly developed Coborn's Grocery, along with nearby residential developments like Parkview Grand Apartments and Parrish Meadows Townhomes, ensures consistent high traffic and customer flow. The property's strong financial performance is reflected in its 6.15% cap rate and a net operating income (NOI) of $165,000. The asking price is $2,683,000, translating to a price per square foot of $1,584.76. This is a rare opportunity to acquire a high-performing, low-maintenance asset with a blue-chip tenant in a rapidly growing market. The property's strong fundamentals and long-term lease make it an ideal addition to any investment portfolio.

Location Insight

City

Otsego

County

Wright

State

Minnesota

Longitude

-93.5655

Latitude

45.2794