1545 7th Ave - Showroom FOR SALE


Newport, MN 55055
$2,950,000 USD
651-262-7809
1545 7th Ave, Newport, MN for Sale
$2,950,000 USD
Showroom - FOR SALE
1/16
null | 7% Cap Rate

NEW


1545 7th Ave
Newport, MN 55055


HIGHLIGHTS

  • Large Yard or Parking Lot Space
  • ~6 Acre Site
  • In place Rental Income

OVERVIEW

Great! opportunity for an owner user to own a building with income from tenants to pay holding costs. Priced well below replacement cost at $70 per sqauare foot. Entire site is almost 6 acres, with the ability to expand, build a second building, unbelievable upside potential. One of the few sites this large with just under 6 acres this close to the 494 loop. Located immediately off of the 494 loop on Highway 61. Excess yard space available with more than 3 acres of space can otherwise be used for car or vehicle fleet parking. The portion of the site not leased to tenants (~20,000 sqft) is very functional with dock and drive in doors, and the steel frame construction allows for demising walls wherever needed. The building(s) are clear span with no columns with 50-60' depth, which allows for very efficient use of the space. The buildings also have trench drains and waste traps in place. The lot/yard space is fenced and secure with a code operated gate for access.

FOR SALE DETAILS

PRICE

$2,950,000 USD

PRICE/SF

$115 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Building 1

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Showroom

ADD'L SUBTYPES

undefined, Freestanding, Service

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1978

UTILITIES

Gas, Sewer, Heating

CLEAR CEILING HT

20 Ft

DOCKS

6

DRIVE INS

15

PARKING SPACES

10

LAND DETAILS

LAND ACRES

5.61

LAND SF

244,372

ZONING

MX-4

APN/PARCEL ID

36-028-22-23-0040

ASK ABOUT THIS PROPERTY

Nick CarmichaelCapital Commercial PartnersMore Info
651-262-7809

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Nick CarmichaelCapital Commercial PartnersMore Info
651-262-7809

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.