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6700 Industry Ave 64,024 SF Industrial Building Ramsey, MN 55303 $12,895,561 CAD ($201.42 CAD/SF) 6.45% Cap Rate
Investment Highlights
- New 10-Year Lease — Through March 31, 2036
- 2.5% Annual Rent Increases
- AS9100D-Certified Ramsey Facility — Supporting high-reliability aerospace and defense manufacturing
- Triple-Net (NNN) Lease Structure
- Mission-Critical Electronics Manufacturing Facility
- Specialized Manufacturing Buildout — Approximately 91% manufacturing / 9% office
Executive Summary
?NEW 10-YEAR NNN LEASE - VirTex commenced a new 10-year lease on April 1, 2026 with contractual 2.5% annual rent increases and two renewal options.
?PREDICTABLE CONTRACTUAL RENT GROWTH - Year 1 base rent of $596,204 grows to approximately $744,577 in Year 10, increasing contractual yield on the $9.25MM asking price from 6.45% to approximately 8.05%.
?SPECIALIZED MANUFACTURING FACILITY - The property supports office, warehouse and manufacturing functions with specialized production-related buildout for high-reliability electronics manufacturing.
?FUNCTIONAL INDUSTRIAL REAL ESTATE - 63,913 SF on 5.52 acres with 236 parking spaces, two dock-high doors, one grade-level door, full HVAC and sprinkler protection.
?CONTRACT RENT AT MARKET - The $9.33/SF Year 1 contract rent is consistent with market rent, providing a well-supported going-in income stream.
?PREDICTABLE CONTRACTUAL RENT GROWTH - Year 1 base rent of $596,204 grows to approximately $744,577 in Year 10, increasing contractual yield on the $9.25MM asking price from 6.45% to approximately 8.05%.
?SPECIALIZED MANUFACTURING FACILITY - The property supports office, warehouse and manufacturing functions with specialized production-related buildout for high-reliability electronics manufacturing.
?FUNCTIONAL INDUSTRIAL REAL ESTATE - 63,913 SF on 5.52 acres with 236 parking spaces, two dock-high doors, one grade-level door, full HVAC and sprinkler protection.
?CONTRACT RENT AT MARKET - The $9.33/SF Year 1 contract rent is consistent with market rent, providing a well-supported going-in income stream.
Property Facts
| Price | $12,895,561 CAD | Rentable Building Area | 64,024 SF |
| Price Per SF | $201.42 CAD | No. Stories | 1 |
| Sale Type | Investment NNN | Year Built | 1981 |
| Cap Rate | 6.45% | Tenancy | Single |
| Property Type | Industrial | Parking Ratio | 4/1,000 SF |
| Property Subtype | Manufacturing | No. Dock-High Doors/Loading | 2 |
| Building Class | B | No. Drive In / Grade-Level Doors | 1 |
| Lot Size | 5.52 AC | ||
| Zoning | I - Industrial | ||
| Price | $12,895,561 CAD |
| Price Per SF | $201.42 CAD |
| Sale Type | Investment NNN |
| Cap Rate | 6.45% |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | B |
| Lot Size | 5.52 AC |
| Rentable Building Area | 64,024 SF |
| No. Stories | 1 |
| Year Built | 1981 |
| Tenancy | Single |
| Parking Ratio | 4/1,000 SF |
| No. Dock-High Doors/Loading | 2 |
| No. Drive In / Grade-Level Doors | 1 |
| Zoning | I - Industrial |
Amenities
- Controlled Access
- Mezzanine
- Air Conditioning
1 1
Somewhat walkable
20/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
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Blacktree, Inc
6700 Industry Ave
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