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Plaza 53 West 470 Mountain Iron Dr
1,323 - 48,996 SF of Retail Space Available in Mountain Iron, MN 55768
Highlights
- Heavy daytime foot traffic
- The tenant can custom build the space
Space Availability (3)
Display Rental Rate as
- Space
- Size
- Ceiling
- Term
- Rental Rate
- Rent Type
| Space | Size | Ceiling | Term | Rental Rate | Rent Type | |
| 1st Floor | 9,666 SF | 14’ | Negotiable | $10.75 /SF/YR $0.90 /SF/MO $115.71 /m²/YR $9.64 /m²/MO $8,659 /MO $103,910 /YR | Triple Net (NNN) | |
| 1st Floor | 5,050 SF | 12’ | Negotiable | $10.75 /SF/YR $0.90 /SF/MO $115.71 /m²/YR $9.64 /m²/MO $4,524 /MO $54,288 /YR | Triple Net (NNN) | |
| 1st Floor, Ste 5466 | 1,323-34,280 SF | 10’ | Negotiable | $10.75 /SF/YR $0.90 /SF/MO $115.71 /m²/YR $9.64 /m²/MO $30,709 /MO $368,510 /YR | Triple Net (NNN) |
5463-5471 Mountain Iron Dr - 1st Floor
This space has a retail business that is currently leaving 7-1-2023. The unit has a warehouse and garage door in the rear of the building.
- Lease rate does not include utilities, property expenses or building services
- Fully Built-Out as Standard Retail Space
- Located in-line with other retail
- Central Air Conditioning
- Secure Storage
- Finished Ceilings: 14’
- Smoke Detector
- Retail business sign on the front of the building
5463-5471 Mountain Iron Dr - 1st Floor
This space is currently leased and ready for a new tenant to take over retail/office space. 24/7 front door access to the outside. This unit is next door on both sides with National Corporate Tenants.
- Lease rate does not include utilities, property expenses or building services
- Fully Built-Out as Standard Retail Space
- Located in-line with other retail
- Space is in Excellent Condition
- Central Air Conditioning
- Finished Ceilings: 12’
- Smoke Detector
5463-5471 Mountain Iron Dr - 1st Floor - Ste 5466
This South facing corner unit features easy access with maximum exposure to Hwy 53. Owner will build to suit unit for your needs. Flexible terms available. Lease for 1323 up to 34,280 sq ft. Billboard space for sign on Plaza 53 and above your store front door.
- Lease rate does not include utilities, property expenses or building services
- Fully Built-Out as Professional Services Office
- Located in-line with other retail
- Central Air Conditioning
- Partitioned Offices
- Private Restrooms
- Corner Space
- Drop Ceilings
- Recessed Lighting
- Finished Ceilings: 10’
- Build to suite
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
SELECT TENANTS AT Plaza 53 West
- Tenant
- Description
- US Locations
- Reach
- Cost Cutters Duluth
- Salon/Barber/Spa
- 1
- -
- Edward Jones
- Finance Company
- 17,670
- International
| Tenant | Description | US Locations | Reach |
| Cost Cutters Duluth | Salon/Barber/Spa | 1 | - |
| Edward Jones | Finance Company | 17,670 | International |
PROPERTY FACTS FOR 470 Mountain Iron Dr , Mountain Iron, MN 55768
| Min. Divisible | 1,323 SF | Gross Leasable Area | 79,800 SF |
| Center Type | Neighborhood Center | Total Land Area | 6.49 AC |
| Center Properties | 1 | Year Built | 1974 |
| Frontage | 1,500’ on Mountain Iron Drive |
| Min. Divisible | 1,323 SF |
| Center Type | Neighborhood Center |
| Center Properties | 1 |
| Frontage | 1,500’ on Mountain Iron Drive |
| Gross Leasable Area | 79,800 SF |
| Total Land Area | 6.49 AC |
| Year Built | 1974 |
About the Property
The center fronts the highest trafficked thoroughfare in the area, Minnesota State Highway 53, seeing 18,000+ vehicles per day. The City of Virginia is the center of the Mesabi Range and is considered the Range's shopping and entertainment hub, drawing everyday shopping population of over 20,000 people from a radius of less than 5 miles servicing Mountain Iron at the West to Gilbert on the East. The immediate area has numerous other retailers including, but not limited to, Menards, Target, Super One Foods, Autozone and Valvoline Instant Oil Change that drive customers to the area. The Mesabi Range communities have seen a revitalization as new technology in mining warranted the reopening of the multiple area mines (iron ore) and the creation of thousands of jobs. The Canadian National (CN) rail line runs directly behind the property. CN's tri-coastal network spans Canada from east to west and down through the Midwest to the Gulf of Mexico.
- 24 Hour Access
- Corner Lot
- Freeway Visibility
- Pylon Sign
- Signage
- Tenant Controlled HVAC
- Drive Thru
- Air Conditioning
-
Brad Schumacher - Advantage Point Realty LLC.
Presented by
Advantage Point Realty LLC.
Plaza 53 West | 470 Mountain Iron Dr
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