710-714 N Atlantic Ave
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710-714 N Atlantic Ave
21,387 SF 100% Leased Retail Building Morris, MN 56267 £938,940 (£44/SF) 8.76% Net Initial Yield
Investment Highlights
- Subject Property is 90% Occupied.
- 11 total rentable units with 2 units that are vacant and available for lease.
- National Tenants Include; Ace Hardware, State Farm, Edward Jones Financial.
- Value-Add Lease-Up Opportunity.
- 2,090 SF (2 Units) are vacant and available for lease.
- Surrounded by many National, Regional, and Local complimentary tenants.
Executive Summary
Friedman Real Estate is pleased to present this multi-tenant retail/office center in the heart of Downtown, Morris, MN. The subject property was built in 1974 and is zoned CBD – Central Business District. The subject property is 23,090 SF with 21,387 SF of net rentable area. There are 11 total rentable units with 2 vacant units available for lease. This site is 90% occupied with a value-add lease-up opportunity. There currently are several month-to-month leases in place, with long-term historical occupancy.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
21,387 SF
Building Class
C
Year Built
1974
Price
£938,940
Price Per SF
£44
Net Initial Yield
8.76%
NOI
£82,210
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Opportunity Zone
Yes
Frontage
Amenities
- Signage
PROPERTY TAXES
Parcel Number | 20-0154-000 | Improvements Assessment | £169,166 |
Land Assessment | £22,848 | Total Assessment | £192,013 |
PROPERTY TAXES
Parcel Number
20-0154-000
Land Assessment
£22,848
Improvements Assessment
£169,166
Total Assessment
£192,013
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710-714 N Atlantic Ave
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