6316-6408 56th Ave N - Retail FOR SALE


Minneapolis, MN 55428- Lions Park
$2,995,000 USD
952-210-0484
6316-6408 56th Ave N, Minneapolis, MN for Sale
$2,995,000 USD
Retail - FOR SALE
1/3
null | 9.25% Cap Rate

6316-6408 56th Ave N
Minneapolis, MN 55428
Lions Park


HIGHLIGHTS

  • DENSE RETAIL CORRIDOR - The offering is located in a dense retail corridor in the first ring suburb Crystal.
  • COMPLIMENTARY AND DIVERSE TENANTS - Retail corridor features national tenants such as Target, Aldi, Starbuck’s and McDonalds.
  • RENTS SIGNIFICANTLY BELOW MARKET - The Property is 100% occupied by a diverse tenant mix at rents significantly below market.
  • STRONG CASH FLOW AND CAP RATE - Strong going-in cash flow and Cap Rate with significant upside through rent growth and converting to net leases.
  • PRICED BELOW REPLACEMENT COST - The property is priced well below replacement cost.
  • METRO BLUE LINE EXTENSION - The property is situated adjacent to a planned future light rail station that should significantly increase the traffic.

OVERVIEW

Crystal is a fully-developed, first tier suburban community just west of Minneapolis in Hennepin County, which is situated at about 5 miles from Downtown Minneapolis. The City of Crystal has more than 240 acres dedicated to parks and open space. The city maintains 26 parks as well as numerous ball fields, courts, playgrounds, trails and activity areas. The Crystal Community Center features an outdoor aquatic center, skate park and little league baseball complex. The City of Crystal is in the midst of their Town Center Vision Plan which is to establish a compelling and cohesive 25 year vision for the Town Center Area which surround this property. The plan is to explore redevelopment and infrastructure improvement opportunities that support the City’s goals. Crystal has been awarded the “Minnesota Star City” designation for economic development.

FOR SALE DETAILS

PRICE

$2,995,000 USD

PRICE/SF

$107 USD /SF

CAP RATE

9.25%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Crystal Retail Center

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1952

SPRINKLERS

-

PARKING SPACES

70

LAND DETAILS

LAND ACRES

0.71 AC

LAND SF

30,928 SF

ZONING

C

APN/PARCEL ID

05-118-21-41-0111

ASK ABOUT THIS PROPERTY

AJ PrinsCBREMore Info
952-210-0484

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

AJ PrinsCBREMore Info
952-210-0484

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