324 Lowell Ave Elk River, MN 55330

This exceptional investment opportunity presents a 2022-built, 605-square-foot Caribou Coffee Cabin situated on a 0.55-acre lot at 324 Lowell Ave NW, Elk River, MN 55330. The property boasts a highly desirable absolute NNN lease with a corporate guarantee from a dominant regional brand. The current lease, commencing December 16, 2022, and expiring December 31, 2032, features a remaining term of 8.1 years. The annual net operating income (NOI) is $95,000, yielding a 6.79% cap rate. The lease includes a significant 10% rent increase every five years, providing substantial future income growth. Furthermore, three additional five-year lease options are available, each with a 10% rent increase. This strategically located property benefits from high visibility on a major traffic corridor (Hwy 10), ensuring excellent accessibility and consistent customer traffic. The drive-thru/walk-up design caters to modern consumer preferences, maximizing operational efficiency. The property's strong tenant, Caribou Coffee, is part of the larger Parera Brands portfolio, adding further stability and growth potential. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with a proven track record and significant upside. The asking price is $1,400,000, representing a price per square foot of $2,314.05. The property is zoned for commercial use and features one single-story building.