2522-2550 Nicollet
Minneapolis, MN 55404
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Icehouse Plaza is a multi-tenant center that is 100% leased by seven retail tenants, all of which are on net leases, and has 13 residential units
- The most recent new lease, which is with Starbucks, has a per square foot rent rate that is 67% higher than the next highest rate in the center
- The property is ideally situated on the best corner in the submarket, the signalized intersection of Nicollet Ave and W 26th St
- The in-place loan on the asset is assumable and features a below-market interest rate of 4.45%
- The center boasts a WALT of 6.0 years, and the two largest tenants each have 7+ years of term remaining
PROPERTY FACTS
Property Type
Retail
Property Subtype
Building Size
37,884 SF
Year Built
1900
Tenancy
Multiple
Number of Floors
3
Building FAR
0.73
Lot Size
1.19 AC
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £4,365,426 | |
| Land Assessment | £1,047,603 | Total Assessment | £5,413,029 |
