Bloomington, MN Retail Property For Sale

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Retail for Sale

Bloomington, MN 55420

Mid-America Real Estate – Minnesota, LLC is pleased to present Bank of America located at 611 W​ 98th Street in Bloomington, Minnesota.​ The property is in the 5th largest city in Minnesota, Bloomington, which is a southern suburb within the Minneapolis/St.​ Paul MSA.​ Bloomington boasts a population of over 84,000 residents and there are 68,813 residents and 52,033 employees within three miles of this site.​ The property consists of a 4,020 square foot freestanding bank with double drive thru and is situated on an oversized lot of 1.28 acres.​ Bank of America is subject to a 15-year NNN ground lease with 10% rent increases every 5 years.​ Bank of America is the second largest banking institution in the United States and the 8th largest bank in the world.​ Bank of America has been aggressively expanding over the last 10+ years and now operates more than 4300 branches and 17,000 ATMs domestically.​

Long Term NNN Ground Lease with Increases - Bank of America signed a 15-year NNN ground lease with four (4) five (5) year options in July of 2020 for this site with a planned opening in Fall of 2021. Additionally, the lease boasts 10% rental increases every five (5) years throughout the lease and options, bringing an investor increasing yields. The lease is a true triple net lease with tenant responsible for repair and replacement of buildings and improvements.

New Construction - The tenant has gone through the entitlement process and is currently finishing construction work on their building with a planned opening in Fall of 2021. The property will boast the tenant’s newest plans and finishes, requiring no near-term capital expenditures for an investor or the tenant.

Drive-Through Prototype - The property boasts the tenant’s newest prototype building with a double drive-through. Drive-throughs are increasingly difficult to get municipally approved in Bloomington, creating long term value to both the tenant and any future user should the tenant ever leave. The pandemic has proven that tenants with drive-throughs are considerably more successful and will be in demand more than ever going forward.

Grocery Anchored Development - The property is sandwiched between two lit intersections and is anchored by a grocery store and many other national retailers driving daily traffic to the site. This high traffic location with 22,700 vehicles per day at the intersection will continue to be a great retail location for years to come. This trade area is traditionally difficult to penetrate, limiting both competition as well as new retail development in the area.

Oversized Hard Corner Lot - The property is located on a “hard corner” at two lit intersections which offer excellent visibility and signage to the property. Additionally, the lot is 1.28 acres, which is larger than many similar single tenant lots and can hold a larger building than what was recently built. This creates long term development opportunities should the tenant ever vacate.

Retail for Sale

Minneapolis, MN 55420

Real Estate For Sale Only!

Sprinkler is in 100% of building and Zoning is B-2, General Commercial. Lot size 48,944 square feet. Built 1985. Ample off street parking and seating for 100 plus.

Retail for Sale

Bloomington, MN 55425

• 2,280 SF total available

• Retail & auto service center

• 4 drive-in bays

• Corner visibility on Old Shakopee Rd.

• Easy access to Cedar Ave. / Hwy 77.

• Multiple Uses

• Nice redevelopment opportunity

Retail for Sale

Minneapolis, MN 55431

Well Established Liquor and Tobacco Store in Penn Lake Center. Solid client base. Great owner/operator opportunity. Sale is business only. Please notify Listing agent prior to entering the establishment.

Retail for Sale

Bloomington, MN 55435

This fantastic opportunity is located next to the Pentagon Village mixed-use project that is proposing retail, two hotels and two class “A” office towers. There are 11 hotels and 7.3 million SF of office within a mile.

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