412-415-1177
8009 34th Ave S, Bloomington, MN for Sale
Office - FOR SALE
1/30
null | Request Cap Rate

8009 34th Ave S
Bloomington, MN 55425
South Loop


HIGHLIGHTS

  • Positive operating cash flow will return with delivery on new GSA lease (Spring 2024)
  • Less than 20 minutes to CBD of Minneapolis or St. Paul, 3 miles from MSP International Airport, and 1.3 miles away from Mall of America
  • Located in an Opportunity Zone with significant upside
  • WALT 3.8 Years
  • Surrounded by many new Multi-Family developments, brining new energy and employees to this submarket
  • 1,200 (+/-) space parking ramp and additional surface parking - covered parking is a valued tenant amenity

OVERVIEW

NAI Farbman and NAI Legacy are pleased to present the receiver directed sale of Riverview Office Tower (the “Property”), an opportunity for investors to acquire a well-located value-add office property in Bloomington, Minnesota. The property is currently underoccupied, providing tremendous upside for the next owner. We project a stabilized NOI of$2,856,709 at the end of Year 3 at an occupancy of 94% in our analysis. Aside from the building’s excellent location, the property currently offers a large parking garage with 1,212(+/-) spaces, functional floor plates and nearby amenities. The proximity to MSP Airport and the Mall of America, hotels and restaurants in the surrounding area is attractive to a variety of tenants. The property can be purchased at a basis that will allow the next owner to aggressively pursue new tenant leases.

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Riverview Office Tower

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

15

BUILDING CLASS

B

YEAR BUILT

1973

SPRINKLERS

-

PARKING SPACES

945

LAND DETAILS

LAND ACRES

1.35 AC

LAND SF

58,806 SF

ZONING

CO-1

APN/PARCEL ID

06-027-23-24-0010

ASK ABOUT THIS PROPERTY

John SchneiderJMS Capital Group – Real EstateMore Info
412-415-1177

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John SchneiderJMS Capital Group – Real EstateMore Info
412-415-1177

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