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FedEx Ship Center 4510 Airport Approach Rd 36,888 SF 100% Leased Industrial Building Duluth, MN 55811 $4,921,000 ($133.40/SF) 6.75% Cap Rate
Investment Highlights
- 5+ Years WALT Remaining | 35+ Years Of Continuous Occupancy
- Diversified Income Stream
- Mission-Critical Airport Facility | Airside Access
- NNN Lease Structure | Limited Landlord Responsibilities
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the leasehold interest (building ownership) in a FedEx-anchored, two-tenant investment property located at Duluth International Airport in Duluth, Minnesota. The property features more than five years of remaining weighted average lease term (WALT), providing stable in-place income anchored by FedEx, which has occupied the property for more than 35 years and exercised multiple renewal options, demonstrating its long-term commitment to the site. The property benefits from a NNN lease structure, with tenants responsible for real estate taxes, insurance, and substantially all maintenance obligations. FedEx also reimburses all ground lease expenses, while unreimbursed landlord responsibilities are generally limited to the roof, structure, select exterior elements, and HVAC replacement, making the asset an attractive, low-management investment opportunity.
Property Facts
Amenities
- Signage
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Somewhat walkable
30/100
Exceptionally drivable
90/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,593,800 | |
| Land Assessment | $645,000 | Total Assessment | $2,238,800 |
Property Taxes
Parcel Numbers
Land Assessment
$645,000
Improvements Assessment
$1,593,800
Total Assessment
$2,238,800
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FedEx Ship Center | 4510 Airport Approach Rd
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