10730 Highway 55, Plymouth, MN
Retail | 8.75% CAP | 7,580 SqFt
Marketing description
KW Commercial is pleased to present investors with the opportunity to acquire a 100% leased, three-tenant strip center, located in the heart of Plymouth, Minnesota. The property faces Highway 55 with over 39,000 traffic counts per day, making this a prominent asset in a highly desired suburb! This fully stabilized asset provides great rental income, and the leases are all structured triple net with annual rental escalations which protects investors from creeping inflationary expenditures and expense leakage. Priced at an 8.75% cap rate and well below replacement cost, this is a can’t miss investment opportunity!
Investment highlights
Investment Highlights
-Triple Net Leases & Limited Landlord Responsibilities
-New Building Improvements! New rooftop unit on 1/3 of the Building. New tenant buildouts in 2 out of the 3 units over the last two years.
-High Visibility! Signage Facing Highway 55 with 35,500 traffic counts per day
-Value Add Potential- Gross lease rates are 21% below market.
-Additional Value-Add Opportunity-Property includes ±4,580 SF of lower-level space (currently not leased or included in GLA).This space is sprinklered and offers future potential for storage income or low occupancy tenancy. If included, total building size would be 12,160 SF (basis: ~$131/SF).
Financial Highlights:
Cap Rate: 8.75%
Cash-on-Cash: 9.44%
5-Year IRR: 23.54% if sold at 8.75% Cap at end of Yr. 5 (doesn't include possible additional lower level income)
Lower-Level Value-Add Potential: If lower level is leased at 50% the rate of the existing units above, it would increase NOI by $41,220/yr. which increases building value by $471,085 at a 8.75% cap rate!
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