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3050 Coon Rapids Blvd NW 31,500 SF 100% Leased Retail Building Coon Rapids, MN 55433 $3,629,392 CAD ($115.22 CAD/SF) 8.12% Cap Rate
INVESTMENT HIGHLIGHTS
- Large multi-tenant commercial building.
- Low rental rates through out the building with room for future Income Upside.
- Major renovations completed recently by the owners, around $750,000 spent.
- Zoning allows Automotive & Office Warehouse uses through CUP.
- Solid tenants with good mixture of uses.
EXECUTIVE SUMMARY
Currently, the building is leased at below-market rental rates, leaving significant room for future income upside as leases turn over or are renegotiated. The tenant base is composed of a solid mix of occupants from various industries, providing diversification and reducing the risk associated with vacancy or market shifts. In addition to its favorable zoning and tenant structure, the property has recently undergone major renovations totaling approximately $750,000. These capital improvements were completed by the current ownership and address many of the typical deferred maintenance items, positioning the building for reduced operational costs in the near
term and increased attractiveness to new tenants. Overall, this asset combines strong fundamentals with meaningful upside potential, making it an ideal candidate for investors seeking both stability and growth in a well-located commercial property
term and increased attractiveness to new tenants. Overall, this asset combines strong fundamentals with meaningful upside potential, making it an ideal candidate for investors seeking both stability and growth in a well-located commercial property
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
31,500 SF
Building Class
C
Year Built
1978
Price
$3,629,392 CAD
Price Per SF
$115.22 CAD
Cap Rate
8.12%
NOI
$294,707 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.40
Lot Size
1.80 AC
Zoning
Hwy Commercial - Port Zoning - Campus Drive Design
Parking
92 Spaces (2.92 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Signage
- Signalized Intersection
- Air Conditioning
- Smoke Detector
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 16-31-24-32-0007 | Improvements Assessment | $563,903 CAD |
| Land Assessment | $681,788 CAD | Total Assessment | $1,245,691 CAD |
PROPERTY TAXES
Parcel Number
16-31-24-32-0007
Land Assessment
$681,788 CAD
Improvements Assessment
$563,903 CAD
Total Assessment
$1,245,691 CAD
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Financially Free, LLC
3050 Coon Rapids Blvd NW
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