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150 Industrial Park Rd SE 64,658 SF 100% Leased Industrial Building Cokato, MN 55321 $3,200,000 ($49.49/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- 8.00% Cap Rate
- Below market basis $45.36 PSF
- 3.0% annual increases, next increase 8/1/26
- Creditworthy Tenant - Masco Corporation (MAS) - rated fortune 500
- Below market rents $3.97 PSF
- Limited Landlord responsibilities (structural)
EXECUTIVE SUMMARY
Colliers is please to present this single tenant, industrial investment opportunity in Cokato, MN.
Sauna 360, Inc. (“tenant”) owned by Masco Corp, NYSE symbol (MAS) entered into a 5-year lease agreement 8/1/2024 due tothe need of expansion within the market. Tenant has been in operations for over 30 years in Cokato.
With rapid growth in residential and commercial sauna industry, tenant has demonstrated stable growth, a long term commitment to this market and continues to be an industry leader.
Sauna 360, Inc. (“tenant”) owned by Masco Corp, NYSE symbol (MAS) entered into a 5-year lease agreement 8/1/2024 due tothe need of expansion within the market. Tenant has been in operations for over 30 years in Cokato.
With rapid growth in residential and commercial sauna industry, tenant has demonstrated stable growth, a long term commitment to this market and continues to be an industry leader.
PROPERTY FACTS
| Price | $3,200,000 | Rentable Building Area | 64,658 SF |
| Price Per SF | $49.49 | No. Stories | 1 |
| Sale Type | Investment | Year Built | 1966 |
| Cap Rate | 8% | Parking Ratio | 0.36/1,000 SF |
| Property Type | Industrial | Clear Ceiling Height | 12’ |
| Property Subtype | Manufacturing | No. Dock-High Doors/Loading | 5 |
| Building Class | C | No. Drive In / Grade-Level Doors | 2 |
| Lot Size | 2.60 AC | ||
| Zoning | Commercial | ||
| Price | $3,200,000 |
| Price Per SF | $49.49 |
| Sale Type | Investment |
| Cap Rate | 8% |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | C |
| Lot Size | 2.60 AC |
| Rentable Building Area | 64,658 SF |
| No. Stories | 1 |
| Year Built | 1966 |
| Parking Ratio | 0.36/1,000 SF |
| Clear Ceiling Height | 12’ |
| No. Dock-High Doors/Loading | 5 |
| No. Drive In / Grade-Level Doors | 2 |
| Zoning | Commercial |
AMENITIES
- Signage
1 1
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,234,200 | |
| Land Assessment | $282,100 | Total Assessment | $1,516,300 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$282,100
Improvements Assessment
$1,234,200
Total Assessment
$1,516,300
CONTACTS
-
Casey O'Malley -
Andrew Lubinski -
Justin Felix -
Aaron Whitmore -
Ethan Haglund -
Colliers
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150 Industrial Park Rd SE
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