38681 Tanger DrNorth Branch, MN 55056

Property Details for 38681 Tanger Dr

Year built

1999

Lot size

0.97 AC

Property size (Sq ft)

3,520 SF

Property type

Industrial properties

Property subtype

Industrial live-work properties

APN

11-01029-01

APU

110102901

Description

This exceptional investment opportunity presents a fee-simple ownership of a Denny's restaurant in North Branch, Minnesota. The property boasts a 20-year absolute triple-net (NNN) lease with a highly experienced franchisee operating since 1995. The 3,318 square foot restaurant underwent a complete renovation in 2022, including interior and exterior upgrades, resulting in over 20% year-over-year sales growth. The lease includes four 5-year renewal options with a built-in inflation hedge featuring 7.5% annual rent increases every five years. Located on 0.97 acres with high visibility from Interstate 35, the property benefits from strong demographics and consistent traffic. The asking price is $1,525,000, representing a 6.50% cap rate and a $459.61 price per square foot. The current Net Operating Income (NOI) is $99,125. An adjacent buildable lot may also be available for purchase. This stabilized investment offers passive income with minimal landlord responsibilities, making it an attractive addition to any portfolio. The property's strong performance, long-term lease, and built-in rent increases provide a secure and profitable investment opportunity. The restaurant is currently operating at 100% occupancy. The building was originally constructed in 1999.

• CAP approach

  CAP return

  Valuation

  6%

  $802,491

  6.5%

  $740,761

  7%

  $687,850

• Comparable approach

  Method

  Valuation

  Relative Method

  $278,474

  Geo Method

  $278,474

• Alternative Use

  Use

  Valuation

  Residential

  $740,761

  Hospitality

  $678,533

  Educational

  $564,532

  Medical

  $583,947

  Retail

  $878,160

Location Insight

City

North Branch

County

Chisago

State

Minnesota

Latitude

45.5087

Longitude

-92.9963

CBSA code

33460

CBSA name

MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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