$430,000
$429,000
0.2%For more information regarding the value of a property, please contact us for a free consultation.
54366 County Hwy 61 Sandstone, MN 55072
Key Details
Sold Price $430,000
Property Type Commercial
Sub Type Industrial,Office,Other,Warehouse
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 6449869
Sold Date 11/30/23
Year Built 2002
Tax Year 2023
Contingent None
Lot Dimensions 686x485x677x386
Property Description
Investment Property for sale. Excellent cap rate.
Strong Credit Tenant (BNSF) for your investor's portfolio.
Taxes are TED as this is currently a city building.
See encroachment agreement in supplements for the septic system.
$38,500 annual income on a NNN Lease with 3% annual increases in base rent.
5 Year Lease term until June 30th, 2026.
Landlord and Tenant may agree to extend for another 5 years if desired by both parties at a new rate at any time during the current term. The option is not mandatory to the Landlord.
The property boasts a total of 7,200 Square feet with 3 offices, a generous conference room/common space, 2 bathrooms, ample storage, and a large shop. 1-14 foot garage door and 3 - 13 foot garage doors. Generous parking, concrete aprons and an additional large lean to storage building. Property located just off interstate 35.
Buyers agent to verify all measurements.
Location
State MN
County Pine
Zoning Business/Commercial
Rooms
Basement None
Interior
Heating Radiant Floor, Radiant
Cooling Wall Unit(s)
Fireplace No
Exterior
Parking Features Attached Garage, Covered, Gravel, Concrete, Floor Drain, Garage Door Opener, Guest Parking, Heated Garage, Insulated Garage, Multiple Garages, Other, More Parking Onsite for Fee, Shared Garage/Stall, Open
Garage Spaces 4.0
Utilities Available Electric Common, Heating Common, Hot Water Common
Present Use Commercial,Industrial,Office,Other,Storage Facility,Warehouse
Building
Foundation 7200
Sewer Mound Septic, Private Sewer
Water Drilled, Private, Well
Structure Type Metal Siding
Schools
School District East Central
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