100 Paul Bunyan DrBemidji, MN 56601

Property Details for 100 Paul Bunyan Dr

Year built

2022

Construction

FRAME

Lot size

0.48 AC

Property size (Sq ft)

512 SF

Property type

Commercial real estate

APN

80.00794.00

APU

800079400

Description

This exceptional investment opportunity presents a fee-simple interest in a brand-new, free-standing Caribou Coffee building located at 100 Paul Bunyan Dr NW, Bemidji, MN 56601. The 554 square foot property features a drive-thru and walk-up design, reflecting Caribou Coffee's innovative "Cabin" concept. Built in 2022, this property benefits from a 10-year net lease (NNN) with a corporate guarantee from Caribou Coffee, a dominant regional coffee brand in Minnesota with over 450 locations nationwide. The lease includes attractive 10% rent increases in years 4 and 8, continuing through renewal options, ensuring consistent income growth. The property boasts a strong 6.65% cap rate and a current NOI of $90,000, with 100% occupancy. Situated on a high-traffic corridor (Highway 197) with over 16,000 vehicles per day, this location benefits from its proximity to Bemidji State University and numerous residential areas. Caribou Coffee's affiliation with Panera Brands, a large and established company, further enhances the investment's stability and long-term potential. This is a rare opportunity to acquire a high-performing, low-maintenance investment property in a desirable location. The asking price is $1,353,383.

Location Insight

City

Bemidji

County

Beltrami

State

Minnesota

Latitude

47.4905

Longitude

-94.8802

CBSA code

13420

CBSA name

BEMIDJI, MN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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