x
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

x

Kohl’s, Rochester, MN

Kohl’s

Rochester, MN

Price $9,870,000
Cap Rate 7.00%
NOI $690,883
Lease Term 11 Years Remaining
Lease Type NNN Lease, with Tenant Responsible for All Taxes, Utilities, Insurance, and Maintenance, Excluding Roof, Structure and Parking Lot Replacement
Rental Increases Rental Increases in Option Periods
Year Built 2001
Building Size 86,584 SF
Lot Size 8.61 Acres (375,108 SF)
Status Available
Lead Broker Information Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

LONG-TERM NET LEASE TO ICONIC TENANT WITH STRONG FINANCIALS
» Kohl’s (NYSE: “KSS”) is a leading omnichannel retailer with more than 1,100 stores in 49 states
» Recent 10 Year Lease Extension
» Listed on both the S&P 500 and the Fortune 500
» Annual revenue of $19.1 billion
» Investment grade tenant, rated “BBB-” by S&P and “Baa2” by Moody’s
» Among the largest department store chains in the U.S.

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Conveniently located at the signalized intersection of South Broadway Avenue and 25th Street Southeast, with excellent visibility and access to 45,500 vehicles per day
» Immediate access to U.S. Highway 52, with a high traffic volume of 52,000 vehicles per day near the property
» The property anchors a large shopping center featuring well-known national brands, including Bed Bath & Beyond, Michaels, Five Below, DSW, Massage Envy, and more
» Located along one of Rochester’s primary retail corridors, the property is surrounded by major retailers, including Walmart Supercenter, Menards, Shopko, Marshalls, Target, Lowe’s, and Fleet Farm

CENTRAL LOCATION WITH ROBUST DEMOGRAPHICS
» Centrally located approximately three miles from Downtown Rochester, where many of Mayo Clinic’s facilities are located
» Forming the core of Rochester’s economy, Mayo Clinic employs 35,249 and draws more than two million visitors annually
» The neighborhood around Mayo Clinic is currently being developed per the Destination Medical Center (DMC) initiative, a unique 20-year economic development plan that is expected to create more than 30,000 new jobs and generate approximately $7.5 to $8.0 billion in new net tax revenue over 35 years
» Supported by affluent demographics; the average household income within one mile of the property is $111,644, and average household incomes within three- and five-mile radii are above $96,000
» Located in a densely populated area, with 93,653 residents living within a five-mile radius



Property Description

The property is conveniently located at the signalized intersection of South Broadway Avenue and 25th Street Southeast, with excellent visibility and access to 45,500 vehicles per day. The property enjoys immediate access to U.S. Highway 52, with a high-traffic volume of 52,000 vehicles per day near the property. The property anchors a large shopping center featuring well-known national brands, including Bed Bath & Beyond, Michaels, Five Below, DSW, Massage Envy, and more. Located along one of Rochester’s primary retail corridors, the property is surrounded by major retailers, including Walmart Supercenter, Menards, Shopko, Marshalls, Target, Lowe’s, and Fleet Farm.

The property is centrally located approximately three miles from Downtown Rochester, where many of Mayo Clinic’s facilities are located. Forming the core of Rochester’s economy, Mayo Clinic employs 35,249 and draws more than two million visitors annually. The neighborhood around Mayo Clinic is currently being developed per the Destination Medical Center (DMC) initiative, a unique 20-year economic development plan that is expected to create more than 30,000 new jobs and generate approximately $7.5 to $8.0 billion in new net tax revenue over 35 years. The site’s strong customer base is created by the property’s proximity to Downtown Rochester and by the affluent residential neighborhoods with robust demographics surrounding the area. The average household income within one mile of the property is $111,644, and average household incomes within three- and five-mile radii are above $96,000. Additionally, the property is located in a densely populated area, with 93,653 residents living within a five-mile radius.

Contact Us About This Property

JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link