4405 Pheasant Rdg NE Dr Blaine, MN 55449-4531

Property Details for 4405 Pheasant Rdg NE Dr

Year built

2001

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

10.88 lot acres

Property size

140,684 SF

Property type

Commercial real estate

APN

24-31-23-22-0009

APU

243123220009

Description

This exceptional investment opportunity presents a fee-simple interest in a 145,471-square-foot At Home retail property situated on a 16.06-acre lot in Blaine, Minnesota. The property, built in 2001, is a single-story, freestanding building operating under an absolute NNN lease with zero landlord responsibilities. The current lease, commencing February 8, 2018, and expiring February 28, 2034, boasts a remaining term of 9.3 years, providing significant long-term cash flow stability. The lease includes attractive 2% annual rent escalations throughout the base term, mitigating inflation risks and enhancing investment yield. Four 5-year lease options further extend the investment horizon. The property generates a substantial net operating income (NOI) of $1,068,728, resulting in an 8.50% cap rate. The asking price is $12,573,000. This prime retail location within a power shopping center benefits from high traffic volume and the expanding national presence of the At Home brand, ensuring consistent occupancy and strong rental income. The property's size and location make it an ideal investment for those seeking a passive, long-term, and inflation-protected asset. The property address is 4405 Pheasant Ridge Dr NE, Blaine, MN 55449. This is a 100% occupied, single-tenant property offering a secure and lucrative investment opportunity.

Location Insight

City

Blaine

County

Anoka

State

Minnesota

Longitude

-93.1592

Latitude

45.1657

CBSA code

33460

CBSA name

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

Property Tax & Assessments