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FedEx Ship Center 4510 Airport Approach Rd 36,888 SF 100% Leased Industrial Building Duluth, MN 55811 $6,684,830 CAD ($181.22 CAD/SF) 6.75% Cap Rate
Investment Highlights
- 6+ Years Remaining On FedEx Lease | 35+ Years Of 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. FedEx has more than six years of remaining lease term and has continuously occupied the property for more than 35 years, exercising multiple renewal options and 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 annual ground rent expense in excess of $6,992, while unreimbursed landlord responsibilities are generally limited to the first $6,992 of annual ground rent, the roof, structure, select exterior elements, and HVAC replacement, making the asset an attractive, low-management investment opportunity.
for real estate taxes, insurance, and substantially all maintenance obligations. FedEx also reimburses annual ground rent expense in excess of $6,992, while unreimbursed landlord responsibilities are generally limited to the first $6,992 of annual ground rent, 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 | $2,211,350 CAD | |
| Land Assessment | $894,918 CAD | Total Assessment | $3,106,268 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$894,918 CAD
Improvements Assessment
$2,211,350 CAD
Total Assessment
$3,106,268 CAD
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FedEx Ship Center | 4510 Airport Approach Rd
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