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Minnesota Center | 100% Occupied 3124-3156 Century Ave N 20,424 SF 100% Leased Retail Building Mahtomedi, MN 55110 $3,577,000 ($175.14/SF) 9% Cap Rate
Investment Highlights
- 100% Occupied | Rental Increases | Recent Improvements
- High Visibility on Century Ave | Adjacent to Century College | Links to Surrounding Retail
- NNN Leases | Reduced Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
Executive Summary
SRS Multi-Tenant Investments is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a 19,817 SF, 100% leased strip center located in Mahtomedi, Minnesota. The tenant mix includes retail, restaurant, and service users, all with fixed rental rate increases throughout their terms—steadily growing NOI and providing a hedge against inflation. Several tenants, including Mahtomedi Liquor, Real Estate Holdings, and QC Pizza, have extension options. All tenants operate under NNN leases, reimbursing their pro rata share of operating expenses and minimizing landlord expense leakage.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
20,424 SF
Building Class
B
Year Built/Renovated
1973/1990
Price
$3,577,000
Price Per SF
$175.14
Cap Rate
9%
NOI
$321,972
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.47
Lot Size
1.00 AC
Zoning
Retail
Parking
131 Spaces (6.6 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalized Intersection
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 31-030-21-33-0177 | Improvements Assessment | $2,728,300 |
| Land Assessment | $893,900 | Total Assessment | $3,622,200 |
Property Taxes
Parcel Number
31-030-21-33-0177
Land Assessment
$893,900
Improvements Assessment
$2,728,300
Total Assessment
$3,622,200
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Minnesota Center | 100% Occupied | 3124-3156 Century Ave N
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