Historical Office Sale Listing - Hennepin Square

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Hennepin Square

2021 E Hennepin Ave, Minneapolis, MN 55413

N/A

97,500 SF | Office

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Office Property - Off Market

Price:
N/A
Building Size:
97,500 SF
Property Type:
Office
Property Sub-type:
Office Building
Property Use Type:
Investment
Occupancy:
85%
Tenancy:
Multiple
Listing ID
16013660
Last Updated
over 1 year ago

Description

Long-term Leases: The Property's four largest tenants, Absolute, Inc., Volunteers of America, RFCC, and Path Inc. account for 44% of the net rentable area and have long-term leases with annual rent bumps that do not expire until November 2013 and beyond.

Priced Well Below Replacement Cost: The Property offers an investor the opportunity to acquire a four-story brick office building at well below replacement cost. Priced at just $79.49 per square foot, the Property is positioned to be the affordable alternative in the market.

Attractive In-Place Financing: The property is presently encumbered with attractive in-place bank financing with a 5.75% interest rate and 25-year amortization that may be assumed upon the Lender's approval.

Convenient Location: Hennepin Square is centrally located, offering convenient access to I-35W and State Highway 280. Just blocks away from these two major roadways allows for easy employee and client commuting.

On-site Amenities: The Property offers a variety of on-site amenities, including two conference rooms, an on-site restaurant that serves breakfast and lunch daily, and 37 underground parking spaces

2021 East Hennepin Avenue
Minneapolis, MN 55413

Map of 2021 E Hennepin Ave, Minneapolis, MN 55413 (Hennepin County)

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Created 12/4/2008