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Retail / Cannabis Extraction / Food MFG 1230 State St N 43,693 SF Industrial Building Waseca, MN 56093 $3,800,000 ($86.97/SF) 10% Cap Rate
INVESTMENT HIGHLIGHTS
- Cannabis Approved Location - Commercial Kitchen - Loading Docks - High Power Available - FULL HVAC in Place.
EXECUTIVE SUMMARY
FOR LEASE OR SALE - INVESTMENT HIGHLIGHTS
10% Cap Rate (Actual Income, With Term)
100% Leased with FULL NNN reimbursements
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
PROPERTY SUMMARY
A highly improved ±35,000 SF (expandable) commercial facility ideal for retail, self-storage conversion, cannabis manufacturing/extraction, food or beverage processing, cold storage, or distribution. The property includes millions of dollars of existing improvements—hoods, walk-in coolers, food prep buildout, loading docks, and full commercial HVAC—representing a rare turn-key opportunity for users or investors.
Located just off I-35 with immediate access to HWY 14, the site provides exceptional north/south and east/west distribution connectivity. The center is co-anchored by Bomgaars Fleet & Farm and sits within Waseca, the county seat of Waseca County, offering a stable workforce and pro-business environment.
KEY FEATURES & INFRASTRUCTURE
±35,000 SF (Suite 1230) expandable footprint
Hood systems, walk-in coolers/freezers, food-prep areas
Multiple loading docks + grade loading
Full HVAC throughout conditioned production areas
1600 amps / 208v power in place
480v available for heavy manufacturing
Excellent box condition; minimal deferred maintenance
LOCATION ADVANTAGES
1 hour south of Minneapolis on I-35
Direct access to HWY 14 (east/west freight)
Strong regional trade area
County seat with stable infrastructure & labor base
10% Cap Rate (Actual Income, With Term)
100% Leased with FULL NNN reimbursements
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
PROPERTY SUMMARY
A highly improved ±35,000 SF (expandable) commercial facility ideal for retail, self-storage conversion, cannabis manufacturing/extraction, food or beverage processing, cold storage, or distribution. The property includes millions of dollars of existing improvements—hoods, walk-in coolers, food prep buildout, loading docks, and full commercial HVAC—representing a rare turn-key opportunity for users or investors.
Located just off I-35 with immediate access to HWY 14, the site provides exceptional north/south and east/west distribution connectivity. The center is co-anchored by Bomgaars Fleet & Farm and sits within Waseca, the county seat of Waseca County, offering a stable workforce and pro-business environment.
KEY FEATURES & INFRASTRUCTURE
±35,000 SF (Suite 1230) expandable footprint
Hood systems, walk-in coolers/freezers, food-prep areas
Multiple loading docks + grade loading
Full HVAC throughout conditioned production areas
1600 amps / 208v power in place
480v available for heavy manufacturing
Excellent box condition; minimal deferred maintenance
LOCATION ADVANTAGES
1 hour south of Minneapolis on I-35
Direct access to HWY 14 (east/west freight)
Strong regional trade area
County seat with stable infrastructure & labor base
PROPERTY FACTS
| Price | $3,800,000 | Building Class | C |
| Price Per SF | $86.97 | Construction Status | Proposed |
| Sale Type | Investment or Owner User | Rentable Building Area | 43,693 SF |
| Cap Rate | 10% | No. Stories | 1 |
| Sale Condition | Redevelopment Project | Year Built | 2027 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Manufacturing |
| Price | $3,800,000 |
| Price Per SF | $86.97 |
| Sale Type | Investment or Owner User |
| Cap Rate | 10% |
| Sale Condition | Redevelopment Project |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | C |
| Construction Status | Proposed |
| Rentable Building Area | 43,693 SF |
| No. Stories | 1 |
| Year Built | 2027 |
| Tenancy | Single |
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PROPERTY TAXES
| Parcel Number | 17.217.0040 | Improvements Assessment | $854,600 |
| Land Assessment | $404,800 | Total Assessment | $1,259,400 |
PROPERTY TAXES
Parcel Number
17.217.0040
Land Assessment
$404,800
Improvements Assessment
$854,600
Total Assessment
$1,259,400
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Retail / Cannabis Extraction / Food MFG | 1230 State St N
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