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5353 E River Rd
Minneapolis, MN 55421
Ashley Furniture · Retail Property For Sale
Investment Highlights
- Corporate Occupied Home Store & Distribution Facility | Strategic Logistics Hub | Functional Industrial Improvements
- Immediate Interstate Access | Regional Distribution Connectivity
- Large Infill Industrial Site | NNN Lease Structure | #3 Ashley Location in MN by Visits/SF | Largest Ashley Store in MN
- Dense Employment Base | Strong Demographics In 5-Mile Trade Area
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased Ashley Furniture Store and Distribution Center located in Fridley, Minnesota, a suburb within the Minneapolis-St. Paul MSA. Ashley Furniture utilizes the property as both a retail showroom and regional distribution facility, serving as an important component of its operations throughout the Twin Cities region. The 242,586-square-foot facility is situated on approximately 11.28 acres and features functional industrial improvements including 23 dock-high doors, 32-foot clear heights, ample truck maneuverability, and multiple points of ingress and egress. The NNN lease structure minimizes landlord involvement while providing investors with stable cash flow characteristics from an established tenant occupant. This property is being offered exclusively as part of a two-property portfolio with the Rochester, MN property and must be purchased together.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
242,586 SF
Building Class
B
Year Built
1972
Price
$17,668,000
Price Per SF
$72.83
Cap Rate
6.50%
NOI
$1,148,400
Tenancy
Single
Building Height
1 Story
Loading Docks
23 Exterior
Building FAR
0.49
Lot Size
11.28 AC
Zoning
M-2 - Heavy Industrial District
Parking
202 Spaces (0.83 Spaces per 1,000 SF Leased)
Frontage
300’ on River
Amenities
- Freeway Visibility
- Signage
Property Taxes
| Parcel Numbers | Improvements Assessment | $11,669,000 | |
| Land Assessment | $2,497,000 | Total Assessment | $14,166,000 |
Property Taxes
Parcel Numbers
Land Assessment
$2,497,000
Improvements Assessment
$11,669,000
Total Assessment
$14,166,000
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