- For sale
VALUE ADD OPPORTUNITY
Property NOI will grow by $75,733 after the first year (9.2% Year 2 cap rate on asking price) with additional value add due to below-market rents and 10% vacancy.
BELOW REPLACEMENT COST INVESTMENT
Pricing at $99 PSF, an infill location and underground parking, offers a very low basis with high going-in yields in an up and coming submarket.
FRONTAGE ALONG BOTH BOTTINEAU & BROADWAY
Only property in Downtown Robbinsdale with frontage along both Bottineauand Broadway (Main Street). Rare opportunity to own a large central site of 3.9 acres (two thirds of an entired city block) in a rapidly growing suburban downtown only minutes from Minneapolis.
Located in an Opportunity Zone as part of the Federal Tax Incentive Program, allowing investors to defer capital gains and reduce tax payments for qualified investments going into these communities, creating higher post-tax returns for long term value-add buyers.
FUTURE LIGHT RAIL LOCATION
Bottineau Line (Blue Line Extension) is planned to pass just one block behind the property, connecting downtown Minneapolis to Robbinsdale and other northwest suburbs. Expected to open 2024.
Downtown Robbinsdale is transforming with new development:
• Hy-Vee Grocery Store (2018)
• Birdtown Flats 152-Unit Market Rate Apartment (2019)
• 36th & France 197-Unit Market Rate Apartment (2020)