Restaurant

Perkins Restaurant and Bakery

2215 E Main St, Albert Lea, MN 56007

Listing Price: $2,654,615

Cap Rate
6.50%
Tenant Name
Net-Leased Restaurant
Years Remaining On Lease
18.8
Gross SF
4,230
Guarantor
Corporate Guarantee
Rentable SF
4,230
Price/Gross SF
$627.57
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$40.79

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Perkins Restaurant and Bakery located at 2215 E Main Street in Albert Lea, Minnesota. The site consists of roughly 4,230 rentable square feet of building space on estimated 1.58-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 $172,550 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
  • Four (4), Five (5)-Year Tenant Renewal Options

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

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

    Manhattan

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    License(s): MN: 40583288

    Minnesota

Restaurant

Perkins Restaurant and Bakery

Listing Price: $2,654,615

Cap Rate
6.50%
Tenant Name
Net-Leased Restaurant
Years Remaining On Lease
18.8
Gross SF
4,230
Guarantor
Corporate Guarantee
Rentable SF
4,230
Price/Gross SF
$627.57
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$40.79

Investment Highlights

  • Brand New, 20-Year Absolute Triple Net (NNN) Lease
  • Passive Investment Offering a Long-Term Security of Cash Flow
  • Four (4), Five (5)-Year Tenant Renewal Options

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Perkins Restaurant and Bakery located at 2215 E Main Street in Albert Lea, Minnesota. The site consists of roughly 4,230 rentable square feet of building space on estimated 1.58-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 $172,550 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

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    License(s): MN: 40583288

    Minnesota

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