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1 Premier Dr 26,820 SF 11% Leased Industrial Building Long Lake, MN 55356 $3,200,000 ($119.31/SF)
Investment Highlights
- 23,968 SF available for owner-user
- 4 drive-in doors and heavy power
- New rubber membrane roof and 9 new Rooftop Units in 2019
- Existing office and parking lot rental income! ($51,451/yr.)
- Building is fully temperature controlled (A/C & Heat in manufacturing & warehouse areas)
- Building is fully sprinkled!
Executive Summary
• 26,820 sq. foot industrial building for sale in Long Lake, formerly occupied by a printing company.
• The building has 3 office tenants in-place, and parking lot income. There is 23,968 SF available for an owner-user.
• Drive-in loading with heavy power, making it attractive for a variety of industrial users.
• Temperature Controlled Mnfg. & Warehouse
• Large parking lot, and parking lot income from neighboring building owner
• Located seconds from Hwy 12, and minutes to I-494 and I-394. 20 minutes from the heart of Minneapolis.
Property Details:
- Building Size: 8,738 SF Office; 14,083 SF Manufacturing/Tech; 3,999 SF Warehouse
- Space Available: 5,886 SF Office; 14,083 SF Manufacturing/Tech; 3,999 SF Warehouse
- Acres: 1.39 Acres
- Percent Leased: 10.63%
- Annual Gross Rental Income: $51,451.76 per year
- Year Built: 1984 original building, 1996 Addition
- Parking: 77 off-street parking stalls
- Zoning: I-1 Industrial
- Clear Height: 12 ft. in manufacturing/tech areas (ability to demo the dropped ceiling to get 20 ft. clear); 20 ft. in warehouse area
- Loading: 4 drive-in doors
- Power: Heavy 3-phase
- Roof & HVAC: New rubber membrane roof in 2019; 9 new rooftop HVAC units in 2019; Warehouse is fully heated and air-conditioned
- Fire Suppression: Wet, fully sprinkled
• The building has 3 office tenants in-place, and parking lot income. There is 23,968 SF available for an owner-user.
• Drive-in loading with heavy power, making it attractive for a variety of industrial users.
• Temperature Controlled Mnfg. & Warehouse
• Large parking lot, and parking lot income from neighboring building owner
• Located seconds from Hwy 12, and minutes to I-494 and I-394. 20 minutes from the heart of Minneapolis.
Property Details:
- Building Size: 8,738 SF Office; 14,083 SF Manufacturing/Tech; 3,999 SF Warehouse
- Space Available: 5,886 SF Office; 14,083 SF Manufacturing/Tech; 3,999 SF Warehouse
- Acres: 1.39 Acres
- Percent Leased: 10.63%
- Annual Gross Rental Income: $51,451.76 per year
- Year Built: 1984 original building, 1996 Addition
- Parking: 77 off-street parking stalls
- Zoning: I-1 Industrial
- Clear Height: 12 ft. in manufacturing/tech areas (ability to demo the dropped ceiling to get 20 ft. clear); 20 ft. in warehouse area
- Loading: 4 drive-in doors
- Power: Heavy 3-phase
- Roof & HVAC: New rubber membrane roof in 2019; 9 new rooftop HVAC units in 2019; Warehouse is fully heated and air-conditioned
- Fire Suppression: Wet, fully sprinkled
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$51,451
|
$1.92
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$51,451
|
$1.92
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $51,451 |
| Annual Per SF | $1.92 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $51,451 |
| Annual Per SF | $1.92 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $3,200,000 | Rentable Building Area | 26,820 SF |
| Price Per SF | $119.31 | No. Stories | 2 |
| Sale Type | Investment or Owner User | Year Built | 1984 |
| Property Type | Industrial | Parking Ratio | 2.87/1,000 SF |
| Property Subtype | Manufacturing | Clear Ceiling Height | 20’ |
| Building Class | B | No. Drive In / Grade-Level Doors | 4 |
| Lot Size | 1.39 AC | Cross Streets | Daniels St. |
| Zoning | I-1 | ||
| Price | $3,200,000 |
| Price Per SF | $119.31 |
| Sale Type | Investment or Owner User |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | B |
| Lot Size | 1.39 AC |
| Rentable Building Area | 26,820 SF |
| No. Stories | 2 |
| Year Built | 1984 |
| Parking Ratio | 2.87/1,000 SF |
| Clear Ceiling Height | 20’ |
| No. Drive In / Grade-Level Doors | 4 |
| Cross Streets | Daniels St. |
| Zoning | I-1 |
Amenities
- 24 Hour Access
- Mezzanine
- Signage
- Air Conditioning
Utilities
- Lighting - Fluorescent
- Gas - Natural
- Water - City
- Sewer - City
- Heating - Electric
1 1
Property Taxes
| Parcel Number | 34-118-23-24-0067 | Improvements Assessment | $1,385,000 |
| Land Assessment | $607,000 | Total Assessment | $1,992,000 |
Property Taxes
Parcel Number
34-118-23-24-0067
Land Assessment
$607,000
Improvements Assessment
$1,385,000
Total Assessment
$1,992,000
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