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Arby's 2707 Bridge Ave 3,500 SF Retail Building Albert Lea, MN 56007 $2,802,258 CAD ($800.65 CAD/SF) 6% Cap Rate
Investment Highlights
- Arby’s is on a NNN lease with approximately 9 years remaining on the lease and 10% increases every 5 years.
- Albert Lea sits at the intersection of Interstates 35 and 90, making it a regional transportation hub for travelers.
- The lease is signed by Franchise Associates with guaranty by RTM Restaurant Group Inc., a subsidiary of its parent company, Arby’s Restaurant Group.
- This property is located off of I-90 with traffic counts of 15,638 vehicles per day.
- 5-mile population of 20,197 and 1-mile average household income of $86,682.
Executive Summary
Tenant has operated at this location for 20+ years and recently extended the lease term by 10 years.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Building Size
3,500 SF
Building Class
B
Year Built
2004
Price
$2,802,258 CAD
Price Per SF
$800.65 CAD
Cap Rate
6%
NOI
$168,135 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
0.89 AC
Zoning
Commercial
Frontage
165’ on Bridge Ave
Nearby Major Retailers
Property Taxes
| Parcel Number | 34.401.0010 | Improvements Assessment | $649,024 CAD |
| Land Assessment | $182,525 CAD | Total Assessment | $831,549 CAD |
Property Taxes
Parcel Number
34.401.0010
Land Assessment
$182,525 CAD
Improvements Assessment
$649,024 CAD
Total Assessment
$831,549 CAD
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Arby's | 2707 Bridge Ave
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