888 County Road D W - Office FOR SALE


New Brighton, MN 55112
$950,000 USD
952-924-4600
888 County Road D W, New Brighton, MN for Sale
$950,000 USD
Office - FOR SALE
1/14
null | Request Cap Rate

888 County Road D W
New Brighton, MN 55112


HIGHLIGHTS

  • ? 13,500 GSF office building 91% leased to a diverse tenant roster with high levels of tenant retention
  • ? Simple, gross leases ensure easy management and straight forward lease structure for small businesses, and easy accounting for ownership
  • ? Superior access via the I-35W/County Road D West interchange 2 blocks west and access to I-694 just 2.5 miles to the north
  • ? Steady cash flow (proving strong attraction from hyper local small business to the building)
  • ? Ownership has continuously improved the asset: most recently adding a new security camera system and digital building directory, network/WiFi update
  • ? 0.72 acre size with B-3 General Business zoning

OVERVIEW

Brighton Business Center, (“the Project”) is run like an apartment building. Full service-gross, short-term leases assure flexibility for the landlord and tenants. Successive owners of the Project have retained many of the same tenants for five, even 10 years, highlighting the unique appeal of Brighton Business Center. The asset fits in a unique part of the overall office landscape, filling the need for no-frills, convenient office space where users appreciate a clean, low-cost home for their business and a non-complex lease contract. Current ownership has invested significantly in the Project including repainting the entire exterior, a new camera system, replacement of the HVAC coils, and a new digital tenant directory, all contributing to winning continued renewals and new tenants to the Project. This is a low price point opportunity for buying a well-kept, high-cash-flowing suburban office building that has proven its place in the marketplace, while providing an excellent tax shelter and annual coupon for ownership.

FOR SALE DETAILS

PRICE

$950,000 USD

PRICE/SF

$70 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Brighton Business Center

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

1971

SPRINKLERS

-

PARKING SPACES

50

LAND DETAILS

LAND ACRES

0.74 AC

LAND SF

32,234 SF

ZONING

B-3

APN/PARCEL ID

32-30-23-34-0027

ASK ABOUT THIS PROPERTY

952-924-4600

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952-924-4600

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