Perkins

Frindley, Minnesota

NNN Pro Group is pleased to present the exclusive listing for a Perkins located at 7520 University Ave NE in Fridley, MN. The site consists of roughly 4,974 rentable square feet of building space on estimated 1.75-acre parcel of land. This Perkins is subject to a 20-year absolute triple-net (NNN) lease, which will commence at the close of escrow. The starting rent will be $125,140 and is scheduled to increase by 1.50% annually throughout the base term and in each of the 4, 5-year renewal options.

About the Investment:

✓ 20-Year Absolute Triple Net (NNN) Lease
✓ Passive Investment Offering a Long-Term Security of Cash Flow
✓ Attractive 1.5% Annual Rental Increases
✓ Four (4), Five (5)-Year Tenant Renewal Options

Key Details

Price:: $1,925,231
Cap Rate:: 6.50%
Annual Rent:: $125,140
Address:: 7520 University Ave NE, Frindley, Minnesota 55432
Property Type:: Casual Dining
Lease Type:: Triple Net (NNN)

Original Lease Term:: 20 Years
Lease Commencement:: Close of Escrow
Lease Expiration:: 20 Years from Close of Escrow
Lease Term Remaining:: 20 Years
Rental Increases:: 1.50% Annually
Lot Size:: +/- 1.75 Acres
Building Size:: 4,974 SF
Year Built:: 1978
Tenant:: Perkins

Talk to the pros

Glen Kunofsky

gkunofsky@nnnpro.com

License: 49KU1129178

Edward Otocka

eotocka@nnnpro.com

License: 10401298466

Robert Stein

rstein@nnnpro.com

License: 10401341647

Broker of record

Brian Brockman

Bang Realty, Inc

License: 40628602

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