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PROPERTY INFORMATION
Address: 12525 & 12555 Ulysses Street NE, Blaine, MN
Total GLA: 18,760
Number of Buildings: 2
Land Area: 2.12 acres
Current Occupancy: 86%
FINANCIAL SUMMARY
Offering Price: $4,350,000
Price PSF: $231.87
Year 1 Cap Rate: 7.49%
Five-Year Cash-on-Cash Return: 12.19%
INVESTMENT HIGHLIGHTS
ESTABLISHED TENANTS
Great Clips, H&R Block and Bruegger’s are original tenants in the Property. Perkins, although not included in the offering, has been located at the intersection since 1979.
STRONG DEMOGRAPHICS
The average household income within one mile of the Property is in excess of $94,000.
THRIVING RETAIL TRADE AREA
The city of Blaine, and more specifically, the Central Avenue corridor, has become a sought after trade area in the Twin Cities market with the presence of many major retailers, such as SuperTarget, Cub Foods, Walmart, Kohl’s, Lowe’s, Marshalls and Petco.
DESIRABLE TENANT MIX
The Property is a timeless neighborhood center featuring uses that are resistant to the online shopping trends of today.
PROMINENT PYLON SIGNAGE
One of two large pylon signs is positioned directly on Central Avenue with visibility to over 38,000 cars per day. The second large pylon sign sits on 125th Avenue NE (19,600 cars per day).
NEW DEVELOPMENT ADJACENT TO PROPERTY
The Emberwood Apartments were built in 2016 directly adjacent to the Property. The project is being built in phases and, when complete, will have 112 units.
CLOSE PROXIMITY TO SCHOOLS
The Property is within a mile of both Blaine High School and Roosevelt Middle School. With over 4,000 students within close proximity to the Property, Main Street Marketplace is a convenient destination for both students and parents.
EASY ACCESS
The Property is located at a full access, signalized intersection at Ulysses Street and 125th Avenue NE.
DEBT FREE - SUPERIOR RETURNS
The Property is being offered free and clear of existing debt, giving investors the opportunity to take advantage of today’s historically low debt terms. Our analysis reflects a 12.19% five (5) year average cash-on-cash return.
CLICK HERE TO COMPLETE THE CONFIDENTIALITY AGREEMENT
