Restaurant

Denny's - New 15 Year Lease

6405 North James Circle, Brooklyn Center, MN 55430

Listing Price: $1,414,286

Cap Rate
7.00%
Tenant Name
Denny's
Years Remaining On Lease
14.2
Gross SF
5,250
Guarantor
Personal Guarantee
Rentable SF
5,250
Price/Gross SF
$269.39
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.86

Investment Overview

This Denny's asset features an absolute NNN lease with approximately 6.5 years remaining. The operator, who is an experienced Denny's franchisee with several locations, has personally guaranteed the lease.
The subject property is practically surrounded by Hotels with eight existing Hotels and a 9th under construction providing a strong built in flow of diners.
Per Costar, population counts for 2019 within 5 miles of the property are 302,000 with an expected population in 2024 of 314,000 which would be a growth of 3.89%.
Casey's General Store has a new location currently under construction adjacent to the property at the corner of Single Creek Parkway and Freeway Boulevard, demonstrating the continued desirability of the location.

Investment Highlights

  • Recent Lease Extension to 15 Years Demonstrates Commitment to Location
  • Absolute NNN Lease
  • Eight Hotels in Immediate Area With a Ninth Under Construction
  • Densely Populated Area With 302K People Within 5 Miles (Per Costar 2019)
  • Personal Guarantee From Tenant Through the end of 2025
  • Direct Exposure to I-94 and 135K Vehicles per Day

Exclusively Listed By

Listing Price: $1,414,286

Cap Rate
7.00%
Tenant Name
Denny's
Years Remaining On Lease
14.2
Gross SF
5,250
Guarantor
Personal Guarantee
Rentable SF
5,250
Price/Gross SF
$269.39
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.86

Investment Highlights

  • Recent Lease Extension to 15 Years Demonstrates Commitment to Location
  • Absolute NNN Lease
  • Eight Hotels in Immediate Area With a Ninth Under Construction
  • Densely Populated Area With 302K People Within 5 Miles (Per Costar 2019)
  • Personal Guarantee From Tenant Through the end of 2025
  • Direct Exposure to I-94 and 135K Vehicles per Day

Investment Overview

This Denny's asset features an absolute NNN lease with approximately 6.5 years remaining. The operator, who is an experienced Denny's franchisee with several locations, has personally guaranteed the lease.
The subject property is practically surrounded by Hotels with eight existing Hotels and a 9th under construction providing a strong built in flow of diners.
Per Costar, population counts for 2019 within 5 miles of the property are 302,000 with an expected population in 2024 of 314,000 which would be a growth of 3.89%.
Casey's General Store has a new location currently under construction adjacent to the property at the corner of Single Creek Parkway and Freeway Boulevard, demonstrating the continued desirability of the location.

Exclusively Listed By

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