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Restaurant

Perkins Restaurant and Bakery

5420 W Broadway Ave, Crystal, MN 55428

Listing Price: $2,554,960

Cap Rate
6.25%
Tenant Name
Corporate
Years Remaining On Lease
18.4
Gross SF
4,880
Guarantor
Corporate Guarantee
Rentable SF
4,880
Price/Gross SF
$523.56
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$32.72

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Perkins Restaurant and Bakery located at 5420 W Broadway Avenue in Crystal, Minnesota. The site consists of roughly 4,880 rentable square feet of building space on estimated 1.60-acre parcel of land. This Perkins Restaurant and Bakery is subject to a brand new, long term, 20-year absolute triple-net (NNN) lease, which commenced on November 1st, 2019. The current annual rent is $159,685 and is scheduled to increase by 1.50%annually throughout the base term and in each of the four (4), five (5)-year tenant renewal option periods.

Investment Highlights

  • Brand New, 20-Year Absolute Triple Net (NNN) Lease
  • Passive Investment Offering a Long-Term Security of Cash Flow
  • Attractive Rental Increases of 1.50% Annually

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Restaurant

Perkins Restaurant and Bakery

Listing Price: $2,554,960

Cap Rate
6.25%
Tenant Name
Corporate
Years Remaining On Lease
18.4
Gross SF
4,880
Guarantor
Corporate Guarantee
Rentable SF
4,880
Price/Gross SF
$523.56
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$32.72

Investment Highlights

  • Brand New, 20-Year Absolute Triple Net (NNN) Lease
  • Passive Investment Offering a Long-Term Security of Cash Flow
  • Attractive Rental Increases of 1.50% Annually

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Perkins Restaurant and Bakery located at 5420 W Broadway Avenue in Crystal, Minnesota. The site consists of roughly 4,880 rentable square feet of building space on estimated 1.60-acre parcel of land. This Perkins Restaurant and Bakery is subject to a brand new, long term, 20-year absolute triple-net (NNN) lease, which commenced on November 1st, 2019. The current annual rent is $159,685 and is scheduled to increase by 1.50%annually throughout the base term and in each of the four (4), five (5)-year tenant renewal option periods.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

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