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Multi-Tenant Offering 5428 260th St 8,400 SF 100% Leased Industrial Building Wyoming, MN 55092 $2,099,000 CAD ($249.88 CAD/SF) 7.27% Cap Rate
Investment Highlights
- Corporate Guarantee from Straightaway Tire & Auto (85+ Units)
- Strong Demographics | Affluent Community
- Recent Lease Extensions from All-Three Tenants
- Proximity to Downtown Minneapolis
Executive Summary
Surmount is pleased to present the exclusive multi-tenant listing for Straightaway Auto (Branded as Victory Auto) located at 5428 260th Street in Wyoming, Minnesota. The property comprises approximately 8,400 rentable square feet situated on an estimated 1.57-acre parcel. Victory Auto occupies 6,000 square feet of the site under a 20-year Triple Net (NNN) lease that commenced on March 21, 2023, with over sixteen years of term remaining. Two additional tenants, NES Building Solutions and KACE Small Engine, are subject to original 2-year lease terms beginning August 1, 2024, and October 1, 2024, respectively. Both tenant’s have recently signed a one-year extension, demonstrating further commitment to the location. Victory Auto’s current annual rent is $59,213 with varying annual increases, reaching 3.00% by 2032. The combined net operating income across all three tenants totals $109,602.
Property Facts
| Price | $2,099,000 CAD | Building Class | C |
| Price Per SF | $249.88 CAD | Lot Size | 1.57 AC |
| Sale Type | Investment NNN | Rentable Building Area | 8,400 SF |
| Cap Rate | 7.27% | No. Stories | 1 |
| Property Type | Industrial | Year Built | 2002 |
| Property Subtype | Warehouse | No. Drive In / Grade-Level Doors | 3 |
| Zoning | I | ||
| Price | $2,099,000 CAD |
| Price Per SF | $249.88 CAD |
| Sale Type | Investment NNN |
| Cap Rate | 7.27% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 1.57 AC |
| Rentable Building Area | 8,400 SF |
| No. Stories | 1 |
| Year Built | 2002 |
| No. Drive In / Grade-Level Doors | 3 |
| Zoning | I |
Amenities
- Signage
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 21-00589-28 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $936,300 CAD |
Property Taxes
Parcel Number
21-00589-28
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$936,300 CAD
Contacts
-
Edward Otocka -
Ryan Sblendorio -
Amelia Haydock -
Will Byrne -
Glen Kunofsky -
Christopher Marks -
Surmount
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Multi-Tenant Offering | 5428 260th St
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