Property details
Caprate, Great Lakes - Big Rivers Region
Property Description
Caprate
• New Construction Caprate property
• Free-standing retail store
• 15 year initial lease terms
• Rental increases every 5 years
Caprate property! 8.25% Caprate! Corner location at a Interstate and Highway intersection. The store is a relocation of a 31K SF facility located 1 mile of the subject property. The next closest Gander Mountain store is located 78 miles away!
Gander Mountain, headquartered in St. Paul, Minnesota, is a leading specialty retailer that serves the needs of outdoor lifestyle enthusiasts, with a particular focus on hunting, fishing, camping and boating. As of October 2007, the Company had 115 Gander Mountain outdoor lifestyle stores in 23 states.
Property lease dates shown are estimates. Actual dates are subject to verification.
What is a Caprate?
Caprate is a percentage obtained by taking the Annual Income and dividing it by the Purchase Price.
Other property related to Caprate
Images
Highlights
- Status:
- Available
- Price:
- $13,180,000
- PSF:
- $202
- Cap Rate:
- 8.25%
- Annual Rent:
- $1,087,351
- Rent Increases:
- None
Property Information
- Building Size:
- 65,228 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Retail
- Units/Spaces:
- 1
- Land Area:
- 9.80 acres
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Gander Mountain
- Lease Type:
- NN
- Lease Commencement:
- 5/1/2008
- Lease Expiration:
- 5/1/2023
- Lease Term:
- 15 years
- Years Remaining:
- 14 years
- Landlord Responsibilities:
- Landlord is responsible for roof and structure repair & replacement only. Tenant is responsible for all other expenses including taxes, insurance, utilities, repairs and common area maintenance.
- Options:
- 4 5-year renewal options
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.