Listed by Colliers - Minneapolis - St. Paul, Minnesota
$8,188,000
Fully Leased Industrial Investment
Details
Property Type Industrial
Sub Type Distribution, Warehouse
Square Footage 139,200
Cap Rate 8.50%
NOI $696,000
Occupancy 100%
Tenancy Single
Lease Type NNN
Buildings 2
Acreage 14.100
Ground Lease No
139,200 SF Distribution/Warehouse/Truck Terminal
Marketing description
Colliers is pleased to exclusively offer for sale 619 and 715 East Street, a 120,000 square foot distribution facility and 19,200 SF cross-dock trucking facility located in Grinnell, Iowa and 100% leased to Data Center Storage Partners LLC on a three-year lease. The offering presents investors with stable cash flow backed by a rapidly expanding tenant who services the data center industry.
Investment highlights
- Meaningful year-one yield at 8.5% Cap Rate
- Annual Increases of 2.5%
- Below $60/SF basis
- Tenant is built for the rapidly expanding data center market
- Recent capital improvements to be completed, by Seller, include a new extra large drive-in door with a concrete ramp
- Three years of lease term
Listing Contacts
Listed by Colliers - Minneapolis - St. Paul, Minnesota
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$696,000.00
$58,000.00/mo
Valuation Metrics
0
DSCR
8.5%
Cap Rate
8.5%
ROI
Map
Zoning
M-1 IndustrialLight IndustrialLight Industrial
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View all 58 uses Last updated Mar 9, 2026 For deeper zoning details, reports are available at Zoneomics
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