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3050 Coon Rapids Blvd NW 31,500 SF 100% Leased Retail Building Coon Rapids, MN 55433 $2,600,000 ($82.54/SF) 8.12% Cap Rate
INVESTMENT HIGHLIGHTS
- Large multi-tenant commercial building.
- Low rental rates through out the building with room for future Income Upside.
- Major renovations completed recently by the owners, around $750,000 spent.
- Zoning allows Automotive & Office Warehouse uses through CUP.
- Solid tenants with good mixture of uses.
EXECUTIVE SUMMARY
Currently, the building is leased at below-market rental rates, leaving significant room for future income upside as leases turn over or are renegotiated. The tenant base is composed of a solid mix of occupants from various industries, providing diversification and reducing the risk associated with vacancy or market shifts. In addition to its favorable zoning and tenant structure, the property has recently undergone major renovations totaling approximately $750,000. These capital improvements were completed by the current ownership and address many of the typical deferred maintenance items, positioning the building for reduced operational costs in the near
term and increased attractiveness to new tenants. Overall, this asset combines strong fundamentals with meaningful upside potential, making it an ideal candidate for investors seeking both stability and growth in a well-located commercial property
term and increased attractiveness to new tenants. Overall, this asset combines strong fundamentals with meaningful upside potential, making it an ideal candidate for investors seeking both stability and growth in a well-located commercial property
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
31,500 SF
Building Class
C
Year Built
1978
Price
$2,600,000
Price Per SF
$82.54
Cap Rate
8.12%
NOI
$211,120
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.40
Lot Size
1.80 AC
Zoning
Hwy Commercial - Port Zoning - Campus Drive Design
Parking
92 Spaces (2.92 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Signage
- Signalized Intersection
- Air Conditioning
- Smoke Detector
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 16-31-24-32-0007 | Improvements Assessment | $399,900 |
| Land Assessment | $483,500 | Total Assessment | $883,400 |
PROPERTY TAXES
Parcel Number
16-31-24-32-0007
Land Assessment
$483,500
Improvements Assessment
$399,900
Total Assessment
$883,400
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Financially Free, LLC
3050 Coon Rapids Blvd NW
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