2196 White Bear Ave Maplewood, MN 55109
- Retail space
- 15,108 SF
- 1.72 lot acres
Current Use by Public Records
- Retail space
Property Details for 2196 White Bear Ave
- Year built
- 2005
- Lot size
- 1.72 lot acres
- Property size
- 15,108 SF
- Property type
- Retail space
- APN
- 11-29-22-33-0057
- APU
- 112922330057
Description
This exceptional investment opportunity presents a CVS Pharmacy in Maplewood, MN, boasting a 15,108 square foot building on a 1.72-acre lot. The property features an absolute NNN lease with a credit-rated tenant (CVS Pharmacy), offering a hands-off investment with zero landlord responsibilities. The lease, commencing December 22, 2005, has a remaining term of 6.2 years with 10 five-year options, extending to January 31, 2031. The property enjoys a 100% occupancy rate, generating a strong NOI of $379,811 and a compelling 10.55% cap rate. Built in 2005, this strategically located property benefits from a high-visibility hard corner location, situated across from a medical clinic within a dense residential and retail area near major city/county government buildings. The CVS location includes a Minute Clinic, Health Hub, and drive-thru, further enhancing its appeal and profitability. A significant three-year rent credit at closing fully covers landlord expenses during the tenant's initial three-year rent holiday. The asking price is $3,600,000. This presents a rare opportunity to acquire a high-performing, low-risk investment in a thriving Minnesota market.
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
- Maplewood
- County
- Ramsey
- State
- Minnesota
- Longitude
- -93.0245
- Latitude
- 45.0069
- CBSA code
- 33460
- CBSA name
- MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA
