Caribou Coffee Cabin Building in Superior For Sale
Attention Superior Caribou fans, here is your chance to own the land and the building of the city's only location.
The Caribou Cabin opened in Superior in 2021 and is one of the company's drive-thru only locations, that offers everything and more from a regular store. The cute little building, painted in Caribou blue, is located right on Highway 53, right across the highway from the Super One and Kwik Trip, and next to McDonald's.
Now you can be Caribou's landlord, not sure if that comes with any coffee perks or not, the Caribou Cabin building and land are for sale at the asking price of $1,555,000. The building is 605 square feet and the land is .88 acres, and Caribou has a signed lease for 10 years, with the option for another 15.
This is known as Triple Net Lease investing or NNN, meaning you buy the building with a tenant already leasing the building, a similar opportunity was recently available for the Superior Walgreens location.
According to the documents from the broker, Caribou is paying $84,000 in annual rent for years 1-5, $92,400 for years 6-10, and the price would go up to $122,984 annually if Caribou stays 25 years and signs the 3 options to the lease.
Caribou Coffee opened its first location in Edina in 1992 and is still based in Minnesota with over 7000 employees working at over 600 locations around the globe, and is better than Starbucks, prove me wrong. Just playin', I love a Starbucks from time to time.
This location is unique in the Twin Ports, being the only 'Cabin' location, when you visit a Cabin location you'll be greeted with a "Welcome to the Cabin" by baristas, the training is even specialized for these unique locations with employees learning with 'Bou Bonfires, Caribou says the training will teach "team members on how to best live "life at the cabin".