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260 Morris Ave 3,840 SF Vacant Office Building Hinckley, MN 55037 $265,000 ($69.01/SF) 7.55% Cap Rate
INVESTMENT HIGHLIGHTS
- well maintained - on one level - paved parking - close to freeway
EXECUTIVE SUMMARY
Real deal here - one owner commercial property - offers 3800 sq ftg- stable renter - 20 plus paved parking spots- close to freeway- well maintained -
FINANCIAL SUMMARY (PRO FORMA - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$33,000
|
$8.59
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$33,000
|
$8.59
|
| Taxes |
$5,500
|
$1.43
|
| Operating Expenses |
$6,000
|
$1.56
|
| Total Expenses |
$11,500
|
$2.99
|
| Net Operating Income |
$21,500
|
$5.60
|
FINANCIAL SUMMARY (PRO FORMA - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $33,000 |
| Annual Per SF | $8.59 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $33,000 |
| Annual Per SF | $8.59 |
| Taxes | |
|---|---|
| Annual | $5,500 |
| Annual Per SF | $1.43 |
| Operating Expenses | |
|---|---|
| Annual | $6,000 |
| Annual Per SF | $1.56 |
| Total Expenses | |
|---|---|
| Annual | $11,500 |
| Annual Per SF | $2.99 |
| Net Operating Income | |
|---|---|
| Annual | $21,500 |
| Annual Per SF | $5.60 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
3,840 SF
Building Class
C
Year Built
2004
Price
$265,000
Price Per SF
$69.01
Cap Rate
7.55%
NOI
$20,000
Percent Leased
Vacant
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
3,840 SF
Building FAR
0.04
Lot Size
2.10 AC
Opportunity Zone
Yes
Zoning
C-1 - commercial - industrial
AMENITIES
- 24 Hour Access
- Air Conditioning
1 1
PROPERTY TAXES
| Parcel Number | 040.0004.012 | Total Assessment | $279,100 (2025) |
| Land Assessment | $35,300 (2025) | Annual Taxes | $5,500 ($1.43/SF) |
| Improvements Assessment | $243,800 (2025) | Tax Year | 2024 Payable 3300 |
PROPERTY TAXES
Parcel Number
040.0004.012
Land Assessment
$35,300 (2025)
Improvements Assessment
$243,800 (2025)
Total Assessment
$279,100 (2025)
Annual Taxes
$5,500 ($1.43/SF)
Tax Year
2024 Payable 3300
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Presented by
Heartland Realty, Inc
260 Morris Ave
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