7990 Hardwood S Ave, Cottage Grove, MN 55016-4244

Property Details for 7990 Hardwood S Ave

Year built

2003

Lot size

8.92 lot acres

Property type

Commercial real estate

APN

08-027-21-33-0055

APU

802721330055

Description

This exceptional investment opportunity presents a brand-new, 3,430 square foot Chase Bank located at 7990 Hardwood Ave S, Cottage Grove, MN 55016. The property sits on approximately one acre and boasts 94 parking spaces. The absolute NNN ground lease, with a corporate guarantee from Chase Bank, offers a 20-year term commencing August 6, 2024, and expiring August 5, 2044, with 10% rent bumps every five years. The current NOI is $110,000, resulting in a 5.00% cap rate and a price per square foot of $641.40. The property benefits from a prime location in a high-traffic area with over 24,000 vehicles per day on 80th Street and easy access to Highway 10 (51,000+ VPD). Surrounding national retailers include Kohl's, Hy-Vee, HomeGoods, Ulta Beauty, and Planet Fitness. The area boasts strong demographics, with an average household income exceeding $136,000 within a three-mile radius and significant projected population growth. The property is zoned MU Mixed Use and features a signalized access point shared with Kohl's. The ground lease includes four, five-year options. This is a passive investment opportunity with significant long-term growth potential in a thriving market within the Minneapolis-St. Paul MSA. The asking price is $2,200,000.

Location Insight

City

Cottage Grove

County

Washington

State

Minnesota

Longitude

-92.9607

Latitude

44.835

CBSA code

33460

CBSA name

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

Property Tax & Assessments