5428 260th St - Warehouse FOR SALE


$1,507,285 USD
203-253-9455
5428 260th St, Wyoming, MN for Sale
$1,507,285 USD
Warehouse - FOR SALE
1/3
null | 7.27% Cap Rate


HIGHLIGHTS

  • Corporate Guarantee from Straightaway Tire & Auto (85+ Units)
  • Recent Lease Extensions from All-Three Tenants
  • Strong Demographics | Affluent Community
  • Proximity to Downtown Minneapolis

OVERVIEW

Surmount is pleased to present the exclusive multi-tenant listing for Straightaway Auto (Branded as Victory Auto) located at 5428 260th Street in Wyoming, Minnesota. The property comprises approximately 8,400 rentable square feet situated on an estimated 1.57-acre parcel. Victory Auto occupies 6,000 square feet of the site under a 20-year Triple Net (NNN) lease that commenced on March 21, 2023, with over sixteen years of term remaining. Two additional tenants, NES Building Solutions and KACE Small Engine, are subject to original 2-year lease terms beginning August 1, 2024, and October 1, 2024, respectively. Both tenant’s have recently signed a one-year extension, demonstrating further commitment to the location. Victory Auto’s current annual rent is $59,213 with varying annual increases, reaching 3.00% by 2032. The combined net operating income across all three tenants totals $109,602.

FOR SALE DETAILS

PRICE

$1,507,285 USD

PRICE/SF

$179 USD /SF

CAP RATE

7.27%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Multi-Tenant Offering

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2002

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

3

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.57

LAND SF

68,389

ZONING

I

APN/PARCEL ID

21-00589-28

ASK ABOUT THIS PROPERTY

Edward OtockaSurmountMore Info
203-253-9455

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Edward OtockaSurmountMore Info
203-253-9455

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