7520 University AveFridley, MN 55432

Property Details for 7520 University Ave

Year built

1978

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.75 AC

Property size (Sq ft)

5,134 SF

Property type

Commercial real estate

APN

11-30-24-22-0028

APU

113024220028

Description

This exceptional investment opportunity presents a 4,974-square-foot Perkins restaurant located at 7520 University Ave NE in Fridley, Minnesota, within Anoka County, zip code 55432. The property sits on a 1.75-acre lot and boasts a 20-year absolute triple-net (NNN) lease with a corporate guarantee, offering significant long-term security and passive income. The current annual rent is $130,000, with a built-in 1.5% annual rent increase throughout the initial 20-year lease term and four additional five-year renewal options. This translates to a compelling 7.00% cap rate and a price per square foot of $373.37. The building, constructed in 1978, provides a stable foundation for this investment. The lease structure minimizes landlord responsibilities, making this an ideal low-maintenance investment. The strong tenant, Perkins, provides a recognizable brand and consistent cash flow. This offering presents a rare opportunity to acquire a well-established, passively managed, high-yield commercial property with substantial long-term growth potential. The property's location in Fridley, Minnesota, offers convenient access to major transportation routes and a thriving local community. This is a turnkey investment ready for immediate cash flow.

• Alternative Use

  Use

  Valuation

  Residential

  $1,080,417

  Hospitality

  $989,656

  Educational

  $823,382

  Medical

  $851,700

  Retail

  $1,280,817

Location Insight

City

Fridley

County

Anoka

State

Minnesota

Latitude

45.1052

Longitude

-93.265

CBSA code

33460

CBSA name

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

Property Tax & Assessments

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