Listed by The Terrace Group
$5,495,000
400 W Cherry Street
Details
Property Type Industrial
Sub Type Distribution, Warehouse
Square Footage 89,000
Net Rentable (SqFt) 89,000
Occupancy 100%
Tenancy Single
Lease Type NNN
Price per SqFt $62
Year Built 1986
Year Renovated 2008
Buildings 1
Stories 2
Acreage 10.580
Zoning Industrial
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 04/14/2022
Occupancy Date 04/14/2022
Ceiling Height 28'
Loading Docks 7
Dock High Doors 6
Industrial Investment Opportunity or Future Owner/User, Assumable financing at 4% available
Marketing description
400 Cherry Street West brings to the market an incredible opportunity to acquire a clear span building with significant upside, strategically situated between Mankato and St. Peter. Assumable financing at 4% for qualified buyer. This building offers seven drive-ins, six docks, including three installed in 2023, and nine overhead cranes that run the entire length of the building. The property is occupied by a single tenant on a NNN lease with strong ties to the area. The building sits on over 10 ½ acres, allowing the tenant or a potential owner/user the ability to expand. The site also includes direct rail access.
Investment highlights
- 89,000 total square foot building - 80,000 industrial and
- 9,000 office
- 6 dock doors (3 with levelers)
- 7 drive-in doors
- 28’ clear height
- Outdoor storage
- 10.58 acres
- Easy access to Highway 169
- Sale price $5,495,000
- 2023 taxes $38,752
Listing Contacts
Listed by The Terrace Group
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