Marcus & Millichap is pleased to present for a sale a vacating Hardee's located in Rogers, Minnesota. This built-to-suit quick service building, is approximately 2,800 square feet on a 0.68 acre lot. Built in 2011, the fully equipped building remains in pristine condition and features a drive-thru. Located 23 miles west of Minneapolis St. Paul, the property sits in the epicenter of a retail corridor just north of Interstate 94; which sees 96,000 vehicles per day. The tenant will no longer be operating out of this location, but they are currently paying rent. There are over 9 years remaining on the original 15-year term. The tenant, Northland Restaurant Group, LLC, will continue to make rent payments for the remainder of the term. The tenant is an established and veteran restaurant operator. They are one of the largest Hardees franchisees, operating 89 Hardees across nine states.

This recently built Hardees is a polished quick-service restaurant concept. The subject property is in great condition with no deferred maintenance. A large, state of the art electronic sign is under construction. The new 40-foot elevated sign will increase exposure on the recently renovated highway and drive sales for a fast food tenant.

This property offers an investor the opportunity to purchase an absolute-net leased investment with above market rent, while also being able to pursue the potential of offering the tenant a lease buyout as a means of reducing the basis and attracting a new tenant with a fresh, long-term lease at a higher rental rate.

Location Description:

The subject property is located at the Intersection of 141st Avenue (10,200 vehicles per day) and Main Street (46,000 vehicles per day) in a tremendous retail area, with an average household income of $108,405 within a five-mile radius. The property sits kitty corner to a KinderCare Child Care Center and directly west of Rogers Middle School. The subject property sits in a retail corridor with tenants including Walgreens, O'Reilly Auto Parts, Anytime Fitness, Kohl's, Jimmy John's, Target, CVS, Gander Mountain, Napa Auto Parts, Dairy Queen, Noodles & Co., Wendy's, Caribou Coffee, McDonald's, Taco Bell, Denny's, Starbucks, GNC, AT&T, USPS, Super 8 Motel, a Chevrolet Dealership, BMO-Harris Bank, H&R Block, and other big-box and national retail tenants.

Highlights:

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