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Lofts@1633 1633 Monks Ave 66 Unité Immeuble d’appartements 10 748 584 $ CAD (162 857 $ CAD/Unité) 6,59% Taux de capitalisation Mankato, MN 56001
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FAITS SAILLANTS DE L'INVESTISSEMENT
- STRATEGIC LOCATION - Located one block from Minnesota State University, Mankato which has enrollment of over 14,000 Students.
- HISTORY OF 100% OCCUPANCY - 69 student housing beds have been fully occupied for the previous 5 rental seasons.
- RETAIL UPSIDE POTENTIAL - A new owner has the opportunity to create significant value by filling the existing retail vacancy.
- SIGNIFICANT STUDENT HOUSING RENT GROWTH - Lofts@1633 has averaged 9% annual compounding rent growth for the last 5 rental seasons.
- SERVICE-BASED RETAIL TENANCY - All retailers consist of service-based tenants that are resistant to e-commerce competition and market disruptions.
- MINNESOTA’S SECOND LARGEST UNIVERSITY - Mankato is home to Minnesota State University which has enrollment of over 14,000 Students.
RÉSUMÉ DE L'ANNONCE
The offering consists of a three-story mixed-use property with 12,327 square feet of main floor retail and 69 beds of student housing. The asset is strategically located one block from Minnesota State University Mankato. MSU is Minnesota’s second largest university with enrollment exceeding 14,000 students located on a 300+ acre campus. The city of Mankato is 80 miles south of Minneapolis and has a population of 45,000 residents.
Lofts@1633 has had a consistent track record of 100% occupancy throughout its 69 student housing beds. Student rents at Lofts@1633 have averaged 9% annual compounding growth for the last 5 rental seasons. The retail rent roll consists of a diverse mix of national, regional, and local service-based retailers. The majority of retail rents are significantly below new construction competition resulting in high tenant demand and strong occupancy fundamentals for a new owner.
This offering delivers stable in-place cash flow while also providing the opportunity for significant upside potential. An investor can realize this upside by filling the existing retail vacancy and capitalizing on the student housing rent growth that has been demonstrated with this asset. Value creation will be driven largely by the opportunity to increase cashflows and through the irreplaceable infill location less than one block from the MSU Campus.
To view the OM, please sign the Confidentiality Agreement here:
https://www.cbredealflow.com/buyer/agreement?pv=kT0O5J9L2IE4Bg4PNiwcGEYgza-ehf5AVZ3N8t9OkKpoJY8Qrk0LWFqa1KqNbnhR
Lofts@1633 has had a consistent track record of 100% occupancy throughout its 69 student housing beds. Student rents at Lofts@1633 have averaged 9% annual compounding growth for the last 5 rental seasons. The retail rent roll consists of a diverse mix of national, regional, and local service-based retailers. The majority of retail rents are significantly below new construction competition resulting in high tenant demand and strong occupancy fundamentals for a new owner.
This offering delivers stable in-place cash flow while also providing the opportunity for significant upside potential. An investor can realize this upside by filling the existing retail vacancy and capitalizing on the student housing rent growth that has been demonstrated with this asset. Value creation will be driven largely by the opportunity to increase cashflows and through the irreplaceable infill location less than one block from the MSU Campus.
To view the OM, please sign the Confidentiality Agreement here:
https://www.cbredealflow.com/buyer/agreement?pv=kT0O5J9L2IE4Bg4PNiwcGEYgza-ehf5AVZ3N8t9OkKpoJY8Qrk0LWFqa1KqNbnhR
FAITS SUR LA PROPRIÉTÉ
| Prix | 10 748 584 $ CAD | Style d’appartement | De faible hauteur |
| Prix par unité | 162 857 $ CAD | Classe d’immeuble | A |
| Type de vente | Investissement | Taille du lot | 0,55 AC |
| Taux de capitalisation | 6,59% | Taille du bâtiment | 40 869 pi² |
| Nombre d’unités | 66 | Nombre d’étages | 3 |
| Type de propriété | Immeuble residentiel | Année de construction/rénovation | 1990/2015 |
| Sous-type de propriété | Appartement | Ratio de stationnement | 3,09/1 000 pi² |
| Zonage | Commercial - Commerciale | ||
| Prix | 10 748 584 $ CAD |
| Prix par unité | 162 857 $ CAD |
| Type de vente | Investissement |
| Taux de capitalisation | 6,59% |
| Nombre d’unités | 66 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | De faible hauteur |
| Classe d’immeuble | A |
| Taille du lot | 0,55 AC |
| Taille du bâtiment | 40 869 pi² |
| Nombre d’étages | 3 |
| Année de construction/rénovation | 1990/2015 |
| Ratio de stationnement | 3,09/1 000 pi² |
| Zonage | Commercial - Commerciale |
COMMODITÉS
COMMODITÉS DES UNITÉS
- Laveuse/Sécheuse
- Planchers de bois franc
- Wi-Fi
- Îlot de cuisine
COMMODITÉS DU SITE
- Accès contrôlé
Bike Score®
Très cyclable (70)
Impôts fonciers
| Numéros de lot | Évaluation des bâtiments | 9 449 548 $ CAD | |
| Évaluation du terrain | 457 971 $ CAD | Évaluation totale | 9 907 518 $ CAD |
Impôts fonciers
Numéros de lot
Évaluation du terrain
457 971 $ CAD
Évaluation des bâtiments
9 449 548 $ CAD
Évaluation totale
9 907 518 $ CAD
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Lofts@1633 | 1633 Monks Ave
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