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6499 Corporate Center 6499 University Ave NE 74,160 SF 100% Leased Office Building Fridley, MN 55432 For Sale
Investment Highlights
- 6499 University Ave’s current 100% occupancy provides investors with a strong current return
- Strong, committed anchor tenancy by Benedictine Health
- The current occupancy provides investors with durable cash flow
Executive Summary
Cushman & Wakefield is pleased to present 6499 University Ave, a 74,377 square foot boutique office project in desirous northeast suburban Minneapolis, Minnesota. Currently 100% leased, 6499 University provides investors with durable cash flow, long-term weighted average lease term (WALT), strong-anchor tenancy, an attractive basis, and a coveted, highly visibility location.
The project is occupied by four diverse tenants, including two strong performing non-profit tenants, Benedictine Health Systems and Rise, Inc., along with Northeast Metropolitan Intermediate School District No. 916, who recently signed a 10 year lease at the project and Integrated Business Solutions, who recently signed a 5 year lease at the project.
The combination of these four, diverse tenants provides investors with a 6.1 year WALT at the project.
The project is occupied by four diverse tenants, including two strong performing non-profit tenants, Benedictine Health Systems and Rise, Inc., along with Northeast Metropolitan Intermediate School District No. 916, who recently signed a 10 year lease at the project and Integrated Business Solutions, who recently signed a 5 year lease at the project.
The combination of these four, diverse tenants provides investors with a 6.1 year WALT at the project.
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Property Facts
Sale Type
Investment
Property Type
Office
Building Size
74,160 SF
Building Class
B
Year Built/Renovated
1985/2006
NOI
$791,256
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
24,286 SF
Slab To Slab
8’
Building FAR
0.45
Lot Size
3.76 AC
Zoning
C - Commercial
Parking
320 Spaces (4.39 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Controlled Access
- Conferencing Facility
- Security System
- Kitchen
- Outdoor Seating
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Property Taxes
| Parcel Number | 14-30-24-31-0101 | Improvements Assessment | $2,170,200 |
| Land Assessment | $1,270,600 | Total Assessment | $3,440,800 |
Property Taxes
Parcel Number
14-30-24-31-0101
Land Assessment
$1,270,600
Improvements Assessment
$2,170,200
Total Assessment
$3,440,800
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6499 Corporate Center | 6499 University Ave NE
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