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Camping World

4275 Haines Road, Hermantown, MN, USA
$12,268,748 5.75% Cap 66,056 sq ft Built 2004 Representative Photo Print This Page

Location

4275 Haines Road, Hermantown, MN, USA

Asking Price: $12,268,748
Cap Rate: 5.75%
Net Operating Income: $705,453
Square-Footage: 66,056
Lot Size: 8.92 AC
Year Built: 2004
Market: Duluth

100% Fee Simple InterestCorporate GuaranteeLocated on a Major Commercial ThoroughfareLong Term Net LeaseMinimal Landlord ObligationsRated CreditSurrounded by Major Retailers

The subject property is a single-tenant, freestanding Camping World (d.b.a. Gander Outdoors) located in Hermantown, MN. It is a net lease with 13.8 years remaining on the initial term. The lease is corporately guaranteed by Camping World (S&P Rated BB-) The lease calls for increases in rent every 5 years and the tenant has four, five (5) year options to renew. The property is strategically located in a major retail corridor. Neighboring retailers include Walmart, Outback Steakhouse, Kohl’s, Menards, McDonald’s, and many others. The site also benefits from its proximity to outdoor recreational sites like Lake Superior, Spirit Mountain, and Wild Rice Lake Reservoir.

Hermantown is a city in Saint Louis County, Minnesota, United States. The population was 9,414 at the 2010 census. A suburb of Duluth, Minnesota, it has lately been the only city in the county to grow in population, as much of the area’s residential and commercial expansion occurs there. Hermantown is near the tip of Lake Superior.

The eastern part of Hermantown has an appearance typical of a lower-density bedroom community, with large, leafy lots and occasional subdivisions. The car-oriented “Miller Hill area”, or Miller Trunk Corridor of Duluth, has sprawled well past the city boundary line into this part of Hermantown.

U.S. Highway 53, State Highway 194 (MN 194), and County Road 13 (Midway Road) are three of the main routes in Hermantown. Other routes include Maple Grove Road, Haines Road, Arrowhead Road, Stebner Road, Morris Thomas Road, Ugstad Road, and Lavaque Road.

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presented by

Kase Abusharkh Founding Principal View profile
Jacob Abusharkh Managing Principal View profile

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