Listed by RIC Properties
$1,200,000
623 12th Street East
Details
Property Type Retail
Sub Type Storefront, Shopping Center
Square Footage 9,389
Net Rentable (SqFt) 9,389
Cap Rate 8.25%
NOI $98,967
Occupancy 100%
Tenancy Multi
Lease Type Modified
Rent Bumps Yes
Class A
Year Built 2005
Acreage 0.460
Zoning B-2 Central Business
Parking Spaces 30 spaces
Parking per 1,000 SqFt 3.20
Investment Type Net Lease
Ground Lease No
Sale Condition N/A
Retail | 8.25% CAP | 9,389 SqFt
Marketing description
Strategically located on the prominent southwest corner of 12th Street E and Greeley Avenue N in Glencoe, Minnesota, this well-maintained 9,389 SF office/medical building offers excellent visibility, convenient access, and strong curb appeal. The property is 100% occupied by two established tenants with long-term leases in place, providing a stable income stream with minimal management requirements.
Investment highlights
- A well-positioned, fully leased retail/office asset with secure income, long-term tenants, and minimal management requirements.
- Consistent cash flow from two established tenants.
- The property is 100% leased to two complementary tenants.
- Income secured through December 2036.
- Two complementary tenants in different industries.
- Strong medical office component with Southwest Eye Care.
- Built-in contractual rent increases.
- Simple two-tenant investment with minimal landlord responsibilities and streamlined management.
Listing Contacts
Listed by RIC Properties
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$98,967.00
$8,247.25/mo
Valuation Metrics
0
DSCR
8.25%
Cap Rate
8.25%
ROI
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