10904 Baltimore Street NE Blaine, Minnesota 55449
- 15,992 Square Feet
- For Sale
Address: 10904 Baltimore Street NE, Blaine, MN
Square Feet: 15,992
Price Per Square Foot: $212.61
Proforma NOI: $241,750
Initial Cap Rate: 7.11%
LOW AVERAGE RENT & MARKET VACANCY
The Property is 100% leased to eight complimentary tenants with an average rent of just $16.00 per square foot. The current market vacancy in the Blaine submarket of over 3,000,000 square feet is just 3.1%.
AMAZON RESISTANT TENANTS
Over 82% of the Property's gross revenue is derived from service orientated tenants providing a significant hedge against internet competition.
Over 69,000 people reside within three miles of the Property with an average household income of $92,000. Over the last 20 years, Blaine has experienced sustained, high quality growth in housing, retail and commercial and industrial businesses.
THRIVING RETAIL CORRIDOR
The Property is ideally located on a prime corner of the Central Avenue corridor. The Central Corridor has become a sought-after trade area in the Twin Cities market with the presence of most major retailers, including SuperTarget, Walmart, Cub Foods, Kohl's, Lowe's and many more.
STRONG PROPERTY FUNDAMENTALS
The Property's corner location offers outstanding visibility with abundant parking of 5.4 stalls per thousand square feet.
NATIONAL SPORTS CENTER
The Property is located at the entrance to the National Sports Center, the world's largest amateur sports facility, with over 4 million visitors per year. The National Sports Center is a priceless, innovative and unique asset to the local community, state and region with $47 million in economic impact from out-of-state visitors every year.
The Property is being offered free and clear of existing debt, enabling investors to take advantage of today's historically low debt resulting in phenomenal leveraged returns.
Building Size: 15992 Square Feet
Area Available: 15,992 Square Feet