160 Glenwood Avenue N

160 Glenwood Avenue N Minneapolis, Minnesota 55405

  • 28,080 Square Feet
  • Office Industrial
  • For Sale

Summary Description

Click here to complete the Confidentiality Agreement

PROPERTY INFORMATION

Building Size: 28,080
Year Built: 1960
Land Size: 30,326 SF or 0.70 acres
Current Occupancy: 100%
Parking Ratio: 1.34/1,000 SF

FINANCIAL SUMMARY

Price: $2,100,000
Price PSF: $83.11
In-Place NOI: $140,616
In-Place Cap Rate: 6.70%

INVESTMENT HIGHLIGHTS

URBAN IN-FILL LOCATION
Located in the highly desirable North Loop neighborhood, two blocks from a future Southwest LRT Station, adjacent to the Minneapolis Farmer’s Market and two blocks from International Market Square.

BELOW MARKET RENT
The tenant occupying 55% of the building has a lease term expiring in April 2020 at a rent 33% below current market. This tenant has occupied their space for nearly 15 years and benefits greatly from the Property’s close proximity to International Market Square.

RECENT BUILDING IMPROVEMENTS
Over $125,000 has been spent in the last two years for a new roof, HVAC units and parking lot.

DEBT FREE
The Property is being delivered free and clear of existing debt, allowing investors to size their loan to fit their need

Click here to complete the Confidentiality Agreement

Price: $2,100,000.00

Area Available: 28,080 Square Feet

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