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18267 Carson Cir NW
Elk River, MN 55330 Clemens & Munsinger Gardens

$4,200,000 USD

Drugstore For Sale  •  14,721 SF

Property Details

• Property Type Drugstore
• Total Building Size 14,721 SF
• Lot Size 1.76 AC
• Building Class B
• Year Built 2007
• Cap Rate 7.50 %
• Tenancy Single
• Zoning C3

0 Transit Score

59 Walk Score

Highlights

MINNEAPOLIS–ST. PAUL MSA – Located within the nation’s 16th largest MSA and the second largest in the Midwest, Elk River

STRONG POPULATION GROWTH – Elk River is a fast-growing Minneapolis suburb, with projected population increases of 9.3% within 1 mile and 10.1%

LONG-TERM LEASE EXTENSION – In 2020, Walgreens executed a brand-new 15-year lease with 5% rent escalations every five years

RENTAL ESCALATIONS – Walgreens benefits from rare rental escalations of 5% every 5 years, providing a built-in hedge against inflation

NURSING HOME ADJACENT – Situated just 0.2 miles from Guardian Angels Care Center, a 120-bed skilled nursing facility

AFFLUENT COMMUNITY – This Walgreens serves the high-income community of Elk River in Minneapolis’s northwest suburbs, where the average household

Cap Rate:

7.50 %

Major Tenants

Tenant	SF Occupied	Lease End Date
Walgreens

Amenities

• Corner Lot
• Signage
• Drive Thru

Public Transportation

Commuter Rail	Drive	Walk	Distance
Elk River Station (Northstar Corridor - Northstar Commuter Rail)	5 min	-	2.7 mi
Ramsey Station & Platform (Northstar Commuter Rail - Metro Transit)	12 min	-	8.2 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	71
Type:	Surface
Included in Rent:	Yes