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710-714 N Atlantic Ave

21,387 SF 100% Leased Retail Building Morris, MN 56267 $1,200,000 ($56/SF) 8.76% Cap Rate

Storefront Properties Minnesota Morris 710-714 N Atlantic Ave, Morris, MN 56267

Investment Highlights

  • Subject Property is 90% Occupied.
  • 11 total rentable units with 2 units that are vacant and available for lease.
  • National Tenants Include; Ace Hardware, State Farm, Edward Jones Financial.
  • Value-Add Lease-Up Opportunity.
  • 2,090 SF (2 Units) are vacant and available for lease.
  • Surrounded by many National, Regional, and Local complimentary tenants.

Executive Summary

Friedman Real Estate is pleased to present this multi-tenant retail/office center in the heart of Downtown, Morris, MN. The subject property was built in 1974 and is zoned CBD – Central Business District. The subject property is 23,090 SF with 21,387 SF of net rentable area. There are 11 total rentable units with 2 vacant units available for lease. This site is 90% occupied with a value-add lease-up opportunity. There currently are several month-to-month leases in place, with long-term historical occupancy.

Attachments

710-714_Atlantic_Ave_Morris_Minnesota_OM

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
21,387 SF
Building Class
C
Year Built
1974
Price
$1,200,000
Price Per SF
$56
Cap Rate
8.76%
NOI
$105,067
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Opportunity Zone
Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Frontage
130 FT on E 8th St

Amenities

  • Signage
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PROPERTY TAXES

Parcel Number 20-0154-000 Improvements Assessment $216,200
Land Assessment $29,200 Total Assessment $245,400

PROPERTY TAXES

Parcel Number
20-0154-000
Land Assessment
$29,200
Improvements Assessment
$216,200
Total Assessment
$245,400
  • Derek DeLaura
    Derek DeLaura
  • Pat Lutterman
    Pat Lutterman
(248) 848-4109

  • Listing ID: 33314647

  • Date on Market: 9/26/2024

  • Last Updated:

  • Address: 710-714 N Atlantic Ave, Morris, MN 56267

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710-714 N Atlantic Ave
(248) 848-4109 x

710-714 N Atlantic Ave

1/2

Derek DeLaura

(248) 848-4109

(248) 848-4109

Pat Lutterman

(507) 530-2368

(507) 530-2368

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