SINGLE TENANT INVESTMENT OPPORTUNITY
Recent Lease Extension | Densely Populated Area & Growing
1705 Annapolis Ln., Plymouth, MN 55441
FOR MORE INFORMATION PLEASE CONTACT AGENTS:
Doug Passon Robert Bender James Camarata, BOR
Managing Partner Managing Partner Integrity Lake Minnetonka Holdings, LLC
Direct: 248.254.3407 Direct: 248.254.3406 MN License #40194993
[email protected] [email protected]
CLICK HERE TO EMAIL US:
SINGLE TENANT INVESTMENT OPPORTUNITY
Recent Lease Extension | Densely Populated Area & Growing
1705 Annapolis Ln., Plymouth, MN 55441
FOR MORE INFORMATION PLEASE CONTACT AGENTS:
Doug Passon Robert Bender
Managing Partner Managing Partner
Direct: 248.254.3407 Direct: 248.254.3406
[email protected] [email protected]
CLICK HERE TO EMAIL US:
DISCLOSURE :
All materials and information received or derived from Fortis Net Lease (hereinafter collectively referred to as “FNL”), its directors, officers, agents, advisors,
affiliates and/or any third party sources are provided without representation or warranty by FNL its directors, officers, agents, advisors, or affiliates as to
completeness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, suitabil-
ity, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.
Neither FNL its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of
the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be fur-
nished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such
party. FNL will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.
ALL PARTIES SHALL CONDUCT THEIR OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE:
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and inves-
tigations including through appropriate third party independent professionals selected by such party.
All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate inde-
pendent professionals. FNL makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or as-
sumptions. FNL does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial per-
formance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or project-
ed rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any
applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for
the property.
Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or
tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether
the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors,
other consultants and governmental agencies. All properties and services are marketed by FNL in compliance with all applicable fair housing and equal
opportunity laws.
SINGLE TENANT INVESTMENT OPPORTUNITY
Recent Lease Extension | Densely Populated Area & Growing
1705 Annapolis Ln., Plymouth, MN 55441
FOR MORE INFORMATION PLEASE CONTACT AGENTS:
Doug Passon Robert Bender
Managing Partner Managing Partner
Direct: 248.254.3407 Direct: 248.254.3406
[email protected] [email protected]
CLICK HERE TO EMAIL US:
INVESTMENT SUMMARY
List Price: $24,047,100
Current NOI: $1,202,355
Initial Cap Rate: 5.0% | Avg. Cap: 5.70%
Land Acreage: 11.42 Acres
Year Built: 1997
Building Size: 111,847 SF
LEASE SUMMARY
Lease Type: NNN
Taxes/CAM/Insurance: Tenant Responsibility
Structure/Parking: Tenant Responsibility
Roof: Tenant Responsibility***
Original Lease Term: 20 Years
Rent Commencement: May 6, 1996
Rent Expiration: August 31, 2031
Recent Extension: 13 Years, 7 Months
Term Remaining: 15+ Years
Rent Increases: Variable Every 5 Years
Option Periods: Four, Five Year Options
Tenant: Home Depot USA, Inc.
PROPERTY IMAGES
Google Aerial Map: Click HERE
Google Street View: Click HERE
Drone Video: Click HERE
*** Landlord will reimburse Tenant 80% of the unamortized cost of the roof
or roof system during the last five years of the initial Lease term or any time
during the Option Term should it need to be replaced.
INVESTMENT HIGHLIGHTS
111,847 SF Home Depot located on 11.42 Acres
Recently Extended Lease Term with 15+ Years Remaining
300 Surface Parking Spaces | 625 Feet of Frontage on Annapolis Lane
Four, Five Year Options | Variable Rent Increases During Initial Term &
Options
LOCATION HIGHLIGHTS
Located at the Intersection of Water Tower Circle & Annapolis Lane
Just off the Exit of I-494 (95k+ VPD) & County Road 6 (12k+VPD)
Average Household Income Exceeds $109,000 Within a 3 Mile Radius
5 Mile Population Exceeds 162,000 Residents | 5.47% Growth Within I Mile
Median Home Value Exceeds $293,000 Within a 3 Mile Radius
Located Near Major Retail Tenants Including Walgreens, Discount Tire,
Michael’s, Starbuck’s, McDonalds, Burger King, Cub Foods, Best Buy &
Target
Year
Monthly
Rent
Annual
Rent
Rent
Increase
%
Increase
9/1/2016 - 8/31/2021 $100,196.00 $1,202,355 78,300 6.51%
9/1/2021 - 8/31/2026 $106,721.00 $1,280,648 78,288 6.11%
9/1/2026 - 8/31/2031 $113,245.00 $1,358,941 78,294 5.76%
9/1/2031 - 8/31/2036 $119,769.50 $1,437,234 78,293 5.45%
9/1/2036 - 8/31/2041 $126,293.90 $1,515,527 78,293 5.17%
9/1/2041 - 8/31/2046 $132,818.31 $1,593,820 78,293 4.91%
9/1/2046 - 8/31/2051 $139,342.72 $1,672,113
SINGLE TENANT INVESTMENT OPPORTUNITY
Recent Lease Extension | Densely Populated Area & Growing
1705 Annapolis Ln., Plymouth, MN 55441
FOR MORE INFORMATION PLEASE CONTACT AGENTS:
Doug Passon Robert Bender
Managing Partner Managing Partner
Direct: 248.254.3407 Direct: 248.254.3406
[email protected] [email protected]
CLICK HERE TO EMAIL US:
INVESTMENT OVERVIEW
Fortis Net Lease is proud to present the Home Depot located at 1705 Annapolis Lane in Plymouth, MN. The 20 year NNN lease was recently ex-
tended by 13 years and 7 months. The expiration date for the extended term is August 31, 2031 and there are four, five year options with varia-
ble rent increases during the initial term and options.
The subject property is located at the intersection of Water Tower Circle & Annapolis Lane. It is just off the exit of I-494 (95k+ VPD) & County
Road 6 (12k+VPD). The average household income within three miles of the property is over $109,000 and the median home value exceeds
$293,000. The population within five miles exceeds 162,000 residents and has a 5.47% growth rate within one mile. The subject property is sur-
rounded by retail tenants including: Walgreens, Discount Tire, Michael’s, Starbuck’s, McDonalds, Burger King, Cub Foods, Best Buy & Target.
TENANT OVERVIEW
Home Depot’s vision of one-stop shopping for the do-it-yourselfer came to fruition when they opened the first two Home Depot stores on June
22, 1979, in Atlanta, Georgia. The first stores, at around 60,000 square feet each, were cavernous warehouses that dwarfed the competition and
stocked 25,000 products, much more than the average hardware store at that time. Home Depot stores sell various building materials, home
improvement products, and lawn and garden products, as well as provide installation, home maintenance, and professional service programs
to do-it-yourself, do-it-for-me (DIFM), and professional customers. The company offers installation programs that include flooring, cabinets, coun-
tertops, water heaters, and sheds; and professional installation in various categories sold through its in-home sales programs, such as roofing, sid-
ing, windows, cabinet refacing, furnaces, and central air systems, as well as acts as a contractor to provide installation services to its DIFM cus-
tomers through third-party installers. It primarily serves home owners; and renovators/remodelers, general contractors, repairmen, installers, small
business owners, and tradesmen.
Today, The Home Depot is the world’s largest home improvement retailer with nearly 400,000 orange-blooded associates and more than 2,200
stores in the U.S., Canada and Mexico. The typical store today averages 105,000 square feet of indoor retail space, interconnected with an e-
commerce business that offers more than one million products for the DIY customer, professional contractors, and the industry’s largest installa-
tion business for the Do-It-For-Me customer.
SINGLE TENANT INVESTMENT OPPORTUNITY
Recent Lease Extension | Densely Populated Area & Growing
1705 Annapolis Ln., Plymouth, MN 55441
FOR MORE INFORMATION PLEASE CONTACT AGENTS:
Doug Passon Robert Bender
Managing Partner Managing Partner
Direct: 248.254.3407 Direct: 248.254.3406
[email protected] [email protected]
CLICK HERE TO EMAIL US:
LOCATION OVERVIEW
Plymouth, MN
Plymouth is the seventh largest city in the U.S. state of Minnesota. Located 15 miles west of
downtown Minneapolis in Hennepin County, the city is the third largest suburb of Minneapolis–
Saint Paul, which is the sixteenth largest metropolitan area in the United States, with about 3.52
million residents. The population was 70,576 at the 2010 Census.
OneBeacon, Select Comfort and Tonka Water are companies that are headquartered in
Plymouth. Additional employers include: Wayzata Public Schools, Aimia, Medtronic, St. Jude
Medical, Prudential, City of Plymouth, Honeywell, Nilfisk-Advance and US Foods.
Plymouth was named Money magazine’s number one Best Place to Live in 2008 for cities with
populations of 50,000 to 300,000. The city stayed in the top dozen when the magazine repeat-
ed the rankings in 2010.
Many major highways run through or are close to Plymouth, making it readily accessible to all
within the metropolitan area. Interstate 494 runs through Plymouth as does Hwy. 55. Hwy. 169 is
on the city’s eastern border and I-394 is within four miles from the center of Plymouth.
Plymouth residents also enjoy beautiful natural amenities, including more than a half a dozen
sizable water bodies. Medicine Lake, the second largest lake in Hennepin County, is located in
Plymouth. It is a magnet for anglers and boaters. Plymouth voters have gone to the polls twice
to authorize the City of Plymouth to issue bonds to buy open space for preservation and parks.
Plymouth has extensive trails and parks; picturesque open spaces; strong neighborhoods; di-
verse recreation programs; highly regarded school districts; a variety of local businesses; near-
by shopping and entertainment districts; and easy access to downtown Minneapolis and its
wide array of cultural and sports venues.
SINGLE TENANT INVESTMENT OPPORTUNITY
Recent Lease Extension | Densely Populated Area & Growing
1705 Annapolis Ln., Plymouth, MN 55441
FOR MORE INFORMATION PLEASE CONTACT AGENTS:
Doug Passon Robert Bender
Managing Partner Managing Partner
Direct: 248.254.3407 Direct: 248.254.3406
[email protected] [email protected]
CLICK HERE TO EMAIL US:
SINGLE TENANT INVESTMENT OPPORTUNITY
Recent Lease Extension | Densely Populated Area & Growing
1705 Annapolis Ln., Plymouth, MN 55441
FOR MORE INFORMATION PLEASE CONTACT AGENTS:
Doug Passon Robert Bender
Managing Partner Managing Partner
Direct: 248.254.3407 Direct: 248.254.3406
[email protected] [email protected]
CLICK HERE TO EMAIL US:
SINGLE TENANT INVESTMENT OPPORTUNITY
Recent Lease Extension | Densely Populated Area & Growing
1705 Annapolis Ln., Plymouth, MN 55441
FOR MORE INFORMATION PLEASE CONTACT AGENTS:
Doug Passon Robert Bender
Managing Partner Managing Partner
Direct: 248.254.3407 Direct: 248.254.3406
[email protected] [email protected]
CLICK HERE TO EMAIL US:
Water Tower Circle
SINGLE TENANT INVESTMENT OPPORTUNITY
Recent Lease Extension | Densely Populated Area & Growing
1705 Annapolis Ln., Plymouth, MN 55441
FOR MORE INFORMATION PLEASE CONTACT AGENTS:
Doug Passon Robert Bender
Managing Partner Managing Partner
Direct: 248.254.3407 Direct: 248.254.3406
[email protected] [email protected]
CLICK HERE TO EMAIL US:
An
na
po
lis L
an
e
Subject
Property
Water Tower Circle
12,700+ VPD
County Road 6
SINGLE TENANT INVESTMENT OPPORTUNITY
Recent Lease Extension | Densely Populated Area & Growing
1705 Annapolis Ln., Plymouth, MN 55441
FOR MORE INFORMATION PLEASE CONTACT AGENTS:
Doug Passon Robert Bender James Camarata, BOR
Managing Partner Managing Partner Integrity Lake Minnetonka Holdings, LLC
Direct: 248.254.3407 Direct: 248.254.3406 MN License #40194993
[email protected] [email protected]
CLICK HERE TO EMAIL US:
Ridgedale
Center Mall
SINGLE TENANT INVESTMENT OPPORTUNITY
Recent Lease Extension | Densely Populated Area & Growing
1705 Annapolis Ln., Plymouth, MN 55441
FOR MORE INFORMATION PLEASE CONTACT AGENTS:
Doug Passon Robert Bender
Managing Partner Managing Partner
Direct: 248.254.3407 Direct: 248.254.3406
[email protected] [email protected]
CLICK HERE TO EMAIL US:
SINGLE TENANT INVESTMENT OPPORTUNITY
Recent Lease Extension | Densely Populated Area & Growing
1705 Annapolis Ln., Plymouth, MN 55441
FOR MORE INFORMATION PLEASE CONTACT AGENTS:
Doug Passon Robert Bender
Managing Partner Managing Partner
Direct: 248.254.3407 Direct: 248.254.3406
[email protected] [email protected]
CLICK HERE TO EMAIL US:
Population: 1 Mile 3 Mile 5 Mile
2021 Projection 3,087 63,057 171,485
2016 Estimate 2,927 59,933 162,705
2010 Census 2,720 56,363 151,508
Growth 2016-2021 5.47% 5.21% 5.40%
Growth 2010-2016 7.61% 6.33% 7.39%
2016 Population Hispanic Origin 67 1,730 5,528
2016 Population by Race:
White 2,527 50,775 136,960
Black 193 3,609 11,109
Am. Indian & Alaskan 10 234 602
Asian 125 3,999 10,147
Hawaiian & Pacific Island 1 16 70
Other 71 1,300 3,817
U.S. Armed Forces: 0 4 21
Households:
2021 Projection 1,369 26,935 72,621
2016 Estimate 1,298 25,575 68,869
2010 Census 1,209 23,998 64,195
Growth 2016 - 2021 5.47% 5.32% 5.45%
Growth 2010 - 2016 7.36% 6.57% 7.28%
Owner Occupied 1,002 17,283 47,623
Renter Occupied 296 8,292 21,245
2016 Avg Household Income $86,729 $109,335 $104,450
2016 Med Household Income $60,366 $79,479 $76,967
2016 Households by Household Inc:
<$25,000 187 3,267 9,144
$25,000 - $50,000 299 4,797 13,103
$50,000 - $75,000 283 4,121 11,461
$75,000 - $100,000 156 3,360 9,239
$100,000 - $125,000 112 2,354 6,665
$125,000 - $150,000 85 1,746 4,690
$150,000 - $200,000 85 2,402 6,389
$200,000+ 91 3,527 8,179
Population 1 Mile 3 Mile 5 Mile
2016 Total Population: 2,927 59,933 162,705
2021 Population: 3,087 63,057 171,485
Pop Growth 2016-2021: 5.47% 5.21% 5.40%
Average Age: 41.30 40.40 40.20
Households
2016 Total Households: 1,298 25,575 68,869
HH Growth 2016-2021: 5.47% 5.32% 5.45%
Median Household Inc: $60,366 $79,479 $76,967
Avg Household Size: 2.30 2.30 2.30
2016 Avg HH Vehicles: 2.00 2.00 2.00
Housing
Median Home Value: $223,830 $293,644 $272,565
Median Year Built: 1980 1982 1978
OUR TEAM
DOUG PASSON ROB BENDER BRYAN BENDER MIKE CARTER MARV DELAURA MIKE JAWORKSI
Managing Partner Managing Partner Associate Director Senior Associate Senior Associate Senior Associate
(248)254.3410 (248) 254.3410 (248) 254.3410 (248) 254.3410 (248) 254.3410 (248) 254.3410
PAT HAMMOND FRANK ROGERS KYLE CARSON BEN SCHULTZ FORTIS NET LEASE Senior Associate Senior Associate Business Development Business Development 30445 Northwestern Highway, Suite 345
(248) 254.3410 (248) 419.3741 (248) 254.3410 (248) 254.3410 Farmington Hills, MI 48334
This information is deemed confidential and privileged and may contain inside information. If you are not the intended receiver do not read, copy or distribute this offering memorandum, instead delete or destroy it and contact one
of our representatives. This information is believe to be accurate but is not represented or warranted by Fortis Net Lease or any of our agents or contractors.
MORE THAN $4 BILLION IN SALES Fortis Net Lease is a national investment real estate brokerage firm specializing in the acquisition and disposition of investment real es-
tate. We help developers, franchisees, private investors and institutional funds accomplish their short and long term investment goals.
The principals of Fortis Net Lease have successfully sold hundreds of properties in over three dozen states with a total transaction vol-
ume topping $4 billion.
Fortis Net Lease specializes in the acquisition and disposition of the following:
· Net leased single tenant properties (Pharmacies, Auto Parts, Dollar Stores, Banks, QSR, Office/Industrial, Medical, Junior/Big Box, etc.)
· Portfolios & Corporate Sale-Leaseback Transactions (Burger King, Arby’s, Tutor Time, Taco Bell, Wendy’s, etc.)
· Multi-Tenant Retail Centers & Medical Office (Anchored or Unanchored - 5,000 - 1,000,000 SF)
The advisors at Fortis Net Lease create long term relationships with our investors by delivering superior services and unparalleled re-
sults. When you hire Fortis Net Lease as your exclusive representative you will experience the individual attention and professionalism
that you will not receive at other large brokerage firms.
OUR AGENTS
DOUG PASSON ROB BENDER BRYAN BENDER DENO BISTOLARIDES BRANDON HANNA RICHARD LUDWIG
Managing Partner Managing Partner Managing Director Managing Director Managing Director Senior Director
(248) 254.3407 (248) 254.3406 (248) 419.3810 (248) 419.3882 (248) 419.3285 (248) 419.3638
MARVIN DELAURA MIKE CARTER PAT HAMMOND MIKE JAWORSKI DANTE HARGIS MATT WEBER Senior Director Senior Associate Senior Associate Senior Associate Senior Associate Senior Associate
(248) 419.3811 (248) 419.3812 (248) 419.3808 (248) 419.3807 (248) 419.3886 (248) 419.3884
JOSEPH WERNER MIKE GAGGO FRANK ROGERS BEN SCHULTZ KYLE CARSON ABRAHAM LEON Senior Associate Associate Associate Associate Associate Associate
(732) 779.6537 (248) 419.3286 (248) 419.3741 (248) 254.3409 (248) 419.3271 (248) 419.3625
DANNY SAMONA BRENT HANNA BRANDON KASSAB VINCE PIPIA ALEC MANOOGIAN JACK WARDLOW Associate Associate Associate Associate Analyst Analyst
(248) 419.3627 (248) 419.3284 (248) 419.3629 (586) 405.9656 (248) 807.3629 (248) 953.3508
DAN MILLER ANDREW BENDER TRACEY SENSING AMY JONES FORTIS NET LEASE
Analyst Analyst Coordinator Office Manager 30445 Northwestern Hwy., Ste. 275
(586) 202.7168 (248) 419. 3657 (248) 419.3888 (248) 419.3631 Farmington Hills, MI 48334
Top Related