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705 Hillside Ave SW 3,600 SF Office Building Pine City, MN 55063 $395,000 ($109.72/SF) 8.62% Cap Rate
EXECUTIVE SUMMARY
3,600 SF - SINGLE-TENANT BLDG CONVENIENT LOCATION
CLOSE TO I-35 - STRONG TENANT IN PLACE SINCE 2013 -
2 YEARS REMAINING ON TERM
NEW FURNACE IN 2019
NEW A/C IN 2019
REMODEL FRONT ELEVATION 2022
PARKING LOT SEAL COATING 2020
NEW SIDING AND WINDOWS 2024
BUILDING REMODELED FOR TENANT 2013
CLOSE TO I-35 - STRONG TENANT IN PLACE SINCE 2013 -
2 YEARS REMAINING ON TERM
NEW FURNACE IN 2019
NEW A/C IN 2019
REMODEL FRONT ELEVATION 2022
PARKING LOT SEAL COATING 2020
NEW SIDING AND WINDOWS 2024
BUILDING REMODELED FOR TENANT 2013
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$50,400
|
$24.24
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$50,400
|
$24.24
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$16,351
|
$7.86
|
| Net Operating Income |
$34,049
|
$16.38
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $50,400 |
| Annual Per SF | $24.24 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $50,400 |
| Annual Per SF | $24.24 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $16,351 |
| Annual Per SF | $7.86 |
| Net Operating Income | |
|---|---|
| Annual | $34,049 |
| Annual Per SF | $16.38 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
3,600 SF
Building Class
C
Year Built/Renovated
1980/2013
Price
$395,000
Price Per SF
$109.72
Cap Rate
8.62%
NOI
$34,049
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
1,800 SF
Building FAR
0.46
Lot Size
0.18 AC
Opportunity Zone
Yes
Parking
10 Spaces (2.78 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
1 1
PROPERTY TAXES
| Parcel Number | 042.0282.000 | Improvements Assessment | $241,300 (2025) |
| Land Assessment | $74,500 (2025) | Total Assessment | $315,800 (2025) |
PROPERTY TAXES
Parcel Number
042.0282.000
Land Assessment
$74,500 (2025)
Improvements Assessment
$241,300 (2025)
Total Assessment
$315,800 (2025)
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705 Hillside Ave SW
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