3070 White Bear N Ave Maplewood, MN 55109-1312

Property Details for 3070 White Bear N Ave

Year built

2017

Construction

WOOD FRAME

Lot size

0.59 lot acres

Property size

3,810 SF

Zone code

E

Property type

Retail residential properties

APN

02-29-22-21-0019

APU

22922210019

Description

This exceptional retail investment opportunity presents a fee-simple ownership of a 4,305 square foot convenience store, QSR/fast food, and storefront property located at 3070 White Bear Ave, Maplewood, MN 55109. The property boasts a strong 8.75% cap rate, driven by a triple-net (NN+) lease with AT&T, Verizon Wireless, and T-Mobile. The lease, originally commenced on November 1, 2017, has a remaining term of approximately three years, with three five-year options featuring 10% rent bumps. The current annual net operating income (NOI) is $260,453, with an asking price of $2,976,606. Built in 2017, this build-to-suit property sits on a 0.59-acre lot and enjoys 100% occupancy. The property benefits from its prime location in a booming retail corridor, directly across from Maplewood Mall, experiencing over 3 million consumer visits annually. Surrounding national tenants include Macy's, Chick-fil-A, Aldi's, Raising Cane's, Chipotle, and LA Fitness. The area boasts a high average household income of $98,128 and significant traffic counts exceeding 97,000 vehicles daily on US Hwy 694, and 123,900 vehicles daily on White Bear Ave N. The property is approximately 15 miles from downtown Minneapolis, a major metropolitan area. The tenant, AT&T, is a Fortune 500 company with a strong financial profile and a long-term commitment to the location. The lease includes a roughly 13.5-year roof warranty. This offering presents a compelling investment opportunity with significant upside potential.

Location Insight

City

Maplewood

County

Ramsey

State

Minnesota

Longitude

-93.0171

Latitude

45.0342

CBSA code

33460

CBSA name

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

Property Tax & Assessments