4510 Airport Approach Rd - Distribution FOR SALE


Duluth, MN 55811- Kenwood
$4,818,000 USD
646-805-1438
4510 Airport Approach Rd, Duluth, MN for Sale
$4,818,000 USD
Distribution - FOR SALE
1/5
null | 6.75% Cap Rate

4510 Airport Approach Rd
Duluth, MN 55811
Kenwood


HIGHLIGHTS

  • 5+ Years WALT Remaining | 35+ Years Of Continuous Occupancy
  • Mission-Critical Airport Facility | Airside Access
  • Diversified Income Stream
  • NNN Lease Structure | Limited Landlord Responsibilities

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the leasehold interest (building ownership) in a FedEx-anchored, two-tenant investment property located at Duluth International Airport in Duluth, Minnesota. The property features more than five years of remaining weighted average lease term (WALT), providing stable in-place income anchored by FedEx, which has occupied the property for more than 35 years and exercised multiple renewal options, demonstrating its long-term commitment to the site. The property benefits from a NNN lease structure, with tenants responsible for real estate taxes, insurance, and substantially all maintenance obligations. FedEx also reimburses annual ground rent expense in excess of $6,992, while unreimbursed landlord responsibilities are generally limited to the first $6,992 of annual ground rent, the roof, structure, select exterior elements, and HVAC replacement, making the asset an attractive, low-management investment opportunity.

FOR SALE DETAILS

PRICE

$4,818,000 USD

PRICE/SF

$214 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

FedEx Ship Center

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Distribution

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1998

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

48

LAND DETAILS

LAND ACRES

3.86

LAND SF

168,142

ZONING

MU-B

APN/PARCEL ID

010274700110,010274700120

ASK ABOUT THIS PROPERTY

Michael GrunbergSRS National Net LeaseMore Info
646-805-1438

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

Michael GrunbergSRS National Net LeaseMore Info
646-805-1438

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