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Arby's Restaurant 10320 Baltimore Street NE, Blaine, Minnesota, 55449

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Verified : 4/5/2013 Sold

Arby's Restaurant 10320 Baltimore Street NE, Blaine, Minnesota, 55449

$2,275,000 / For sale

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Property Highlights

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$2,275,000
Sale Price:
$2,275,000
Price/SF:
Unlisted
CAP Rate (%):
7.66
NOI:
$174,359
Net Lease:
Yes
Gross Leasable Area (SF):
3,946
Total Lot Size (SF):
54,450
Occupancy (%):
100
Population:
Unlisted
Household Income:
Unlisted
Traffic Counts:
Unlisted
County:
Unlisted
Zoning:
Unlisted
Market:
Unlisted
Submarket:
Unlisted
Lot:
Unlisted
Block:
Unlisted
Building Size (SF):
Unlisted
Net Rentable Area (SF):
Unlisted
Number Of Floors:
Unlisted
Number Of Units:
Unlisted
Year Of Building:
Unlisted
Year Of Renovation:
Unlisted
Vacant SF (SF):
Unlisted
Price/SF ($/SF):
Unlisted
Parcel Number:
Unlisted
Tenancy Type:
Unlisted
Construction Status:
Unlisted
Construction Type:
Unlisted
Sprinkler:
Unlisted
Owner Occupied:
Unlisted

Property Description

The subject property is an absolute net-leased investment opportunity leased to Arby’s Restaurant located in Blaine, Minnesota. Arby’s is operating on an original twenty year lease with approximately twelve years remaining. There are two (2) five (5) year renewal options remaining after the current term. Scheduled base rent will increase by the lesser of 1 percent or CPI increases during the primary term and throughout the option periods. The tenant is responsible for all maintenance, repair and replacement of all improvements to the site.

The lease is corporately guaranteed by RTM Restaurant Group which is now owned by Roark Capital Group.

Location Description

The subject property is located on Central Avenue NE directly north of the 10 interchange. Arby’s is an outlot to a very successful Kohl’s and Menards. The site is situated on the east side of Central Avenue NE and 103rd Avenue NE. Additional retailers and restaurants in the immediate area consist of McDonald's, Bank of America, Noodles and Company, AT&T, Target, Culver’s, OfficeMax, Starbucks, Gander Mountain and many more.