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3751 Midway rd 11,970 SF Industrial Building Hermantown, MN 55810 $1,706,667 ($142.58/SF) 6.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Industry Leading Tenant - FedEx Freight is an industry leader in the Less-Than-Truckload (LTL) industry, generating $9.4B in revenue in FY '24.
- Functional Facility - The ±12,550 SF building sits on ±3.74 AC and features 20 total doors.
- Long Term Operating History - FedEx Freight has occupied the site for more than 20 years.
- Strategic Hub - This property serves as FedEx Freight's only location in the Duluth MSA (Minnesota’s second-largest MSA, ±280,000 residents).
- Recent Upgrades - The site recently had several significant renovations, including upgrades to the parking lot, HVAC systems, and LED lighting systems
- Major Port City - The Port of Duluth serves as the busiest port on the Great Lakes, handling over 35 million tons of cargo annually.
PROPERTY FACTS
| Price | $1,706,667 | Rentable Building Area | 11,970 SF |
| Price Per SF | $142.58 | No. Stories | 1 |
| Sale Type | Investment | Year Built | 1999 |
| Cap Rate | 6.75% | Tenancy | Single |
| Property Type | Industrial | No. Dock-High Doors/Loading | 19 |
| Lot Size | 5.49 AC | No. Drive In / Grade-Level Doors | 1 |
| Price | $1,706,667 |
| Price Per SF | $142.58 |
| Sale Type | Investment |
| Cap Rate | 6.75% |
| Property Type | Industrial |
| Lot Size | 5.49 AC |
| Rentable Building Area | 11,970 SF |
| No. Stories | 1 |
| Year Built | 1999 |
| Tenancy | Single |
| No. Dock-High Doors/Loading | 19 |
| No. Drive In / Grade-Level Doors | 1 |
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PROPERTY TAXES
| Parcel Number | 395001009036 | Improvements Assessment | $627,600 |
| Land Assessment | $127,900 | Total Assessment | $755,500 |
PROPERTY TAXES
Parcel Number
395001009036
Land Assessment
$127,900
Improvements Assessment
$627,600
Total Assessment
$755,500
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3751 Midway rd
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