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Retail / Cannabis Cultivation / Food MFG 1230 State St N 43,693 SF 93% Leased Retail Building Waseca, MN 56093 $3,800,000 ($86.97/SF) 10% Cap Rate
INVESTMENT HIGHLIGHTS
- Turn-Key Retail / Manufacturing / Distribution Facility 10 cap - Commercial Kitchen
EXECUTIVE SUMMARY
10% Cap Rate (Actual Income, With Term)
100% Leased with FULL NNN reimbursements
Value Add redevelopment offered way below replacement cost.
All tenant spaces in excellent condition
Value-Add Redevelopment opportunity
Upside via re-tenanting, expansion, or conversion to storage/industrial
Strong regional draw from Bomgaars Fleet & Farm
Call broker for full financials, rent roll, & redevelopment scenarios
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
AMENITIES
- 24 Hour Access
- Dedicated Turn Lane
- Fenced Lot
- Pylon Sign
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Air Conditioning
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
- Ideal retail/cannabis cultivation/food manufacturing / cold storage facility 1 hour from Minneapolis. - MILLIONS of dollars in a commercial kitchen with floor drains, sinks, hoods, walk-in coolers, food prep areas, loading docks / full HVAC in place - Suite 1230 is about 35,000 sq ft and expandable. - 1600 amp 208v electric in place with 480v also available. - Close to 35w for North (metro) / South (Iowa) distribution, plus easy East / West distribution on HWY 14. - Co-Anchor includes Bomgaars Fleet and Farm with Walmart and O'Riley Auto across the street. - Waseca is the county seat of Waseca County. - N State Street features the highest traffic counts in the market.
The space is currently used for Monson Eyecare and a salon and is in excellent shape. Its in line with Bomgaars Fleet and Farm with ample parking and pylon signage.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 5,000-40,693 SF | Retail | - | 30 Days |
| 1st Floor | 1,000-3,000 SF | Office/Medical | - | Now |
1st Floor
| Size |
| 5,000-40,693 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| 30 Days |
1st Floor
| Size |
| 1,000-3,000 SF |
| Space Use |
| Office/Medical |
| Position |
| - |
| Available |
| Now |
1st Floor
| Size | 5,000-40,693 SF |
| Space Use | Retail |
| Position | - |
| Available | 30 Days |
- Ideal retail/cannabis cultivation/food manufacturing / cold storage facility 1 hour from Minneapolis. - MILLIONS of dollars in a commercial kitchen with floor drains, sinks, hoods, walk-in coolers, food prep areas, loading docks / full HVAC in place - Suite 1230 is about 35,000 sq ft and expandable. - 1600 amp 208v electric in place with 480v also available. - Close to 35w for North (metro) / South (Iowa) distribution, plus easy East / West distribution on HWY 14. - Co-Anchor includes Bomgaars Fleet and Farm with Walmart and O'Riley Auto across the street. - Waseca is the county seat of Waseca County. - N State Street features the highest traffic counts in the market.
1st Floor
| Size | 1,000-3,000 SF |
| Space Use | Office/Medical |
| Position | - |
| Available | Now |
The space is currently used for Monson Eyecare and a salon and is in excellent shape. Its in line with Bomgaars Fleet and Farm with ample parking and pylon signage.
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 17.217.0010 | Improvements Assessment | $320,600 (2024) |
| Land Assessment | $318,600 (2024) | Total Assessment | $639,200 (2024) |
PROPERTY TAXES
Presented by
Retail / Cannabis Cultivation / Food MFG | 1230 State St N
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