12495 5Th Ave Zimmerman, MN 55398

Property Details for 12495 5Th Ave

Lot size

0.33 lot acres

Property size

592 SF

Property type

Commercial real estate

APN

95-575-0110

APU

955750110

Description

This exceptional investment opportunity presents a fee-simple interest in a newly constructed (2022), 554-square-foot Caribou Coffee located at 12495 5th Ave N, Zimmerman, MN 55398. The property boasts a strong 7.00% cap rate and a substantial net operating income (NOI) of $91,000. The single-tenant building is 100% occupied under a triple-net (NNN) lease with a corporate guarantee from Caribou Coffee, extending until November 29, 2032, with over eight years remaining. The lease includes 10% rent escalations every five years, ensuring consistent income growth. This drive-thru and walk-up location features Caribou Coffee's modern "Cabin" concept and benefits from high visibility on 5th Ave N and US-169, a major north-south arterial. The property is strategically situated near a grocery store and a 128-unit luxury apartment complex, further enhancing its appeal and potential for increased traffic. The surrounding area demonstrates strong demographics, with an average household income of $124,000 within a three-mile radius, significantly exceeding the national average. The asking price is $1,300,000, translating to a price per square foot of $2,346.57. This asset offers a compelling combination of strong tenant, favorable lease terms, and a prime location within a thriving community. The property sits on a 0.33-acre lot and is identified by APN 95-575-0110. This is a core investment opportunity with significant long-term potential.

Location Insight

City

Zimmerman

County

Sherburne

State

Minnesota

Longitude

-93.5859

Latitude

45.4473

CBSA code

33460

CBSA name

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

Property Tax & Assessments