Lucky's Market - Tallahassee, FL
US - Tallahassee, FL
€11,023,000 | 5,079 sm
Asset description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in a newly developed, single-tenant Caribou Coffee in Zimmerman, MN, located within the Minneapolis-St. Paul MSA. Caribou Coffee, which has more locations in Minnesota than Starbucks and Dunkin Donuts combined, is the dominant coffee chain in the state. This triple net investment presents a unique opportunity to obtain steady, reliable cash flows from a high-quality tenant.
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Attributes
Asking Price
€1,424,000
Building area Gross
51 sm
Occupancy
100.00%
Year built
2022
Cap Rate
6.00%
NOI
€86,000
Media
Investment highlights
INNOVATIVE CARIBOU “CABIN” CONCEPT
This site features Caribou Coffee’s new “Cabin” concept, a drive-up and walk-up only format. This innovative building design minimizes the company use of real estate and maximizes efficiency in service, reducing costs and increasing profitability
MARKET-DOMINANT COFFEE CHAIN
Caribou Coffee is the dominant coffee chain in Minnesota with more locations in the state than Starbucks and Dunkin’ Donuts combined
NEW 10 YEAR LEASE WITH 10% BUMPS
Caribou recently signed a 10 year lease. The lease features 10% rent bumps every 5 years, increases which continue through the option periods
NEW CONSTRUCTION
The building is newly constructed according to Caribou Coffee’s specifications. The recent construction reduces future costs of potential capital expenditures
Contact brokers
Caribou Coffee - Zimmerman (0 Properties)
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Last updated
Apr 11, 2023
