8900 Walnut St - Westrock Storage & Shopping Center
49,091 SF Specialty Building Offered at $3,200,000 in Rockford, MN 55373
INVESTMENT HIGHLIGHTS
- 12,700 rentable square feet of fully occupied climate controlled storage with 480 RSF to be added December 2024
- Strong Demographics: Median household income in the 4 mile radius above $100,000
- Ability to expand on existing parking lot with drive up storage, portables, or additional retail
- Includes 23,743 square feet of retail and commercial space, leased to strong tenants including USPS, a local dentist, a restaurant, day care and more
- Great visibility to nearly 15,000 vehicles per day via Highway 55
EXECUTIVE SUMMARY
Call for Offers Due 3/20/25
Westrock Storage & Shopping Center presents an excellent opportunity to acquire a stabilized investment property with diverse income streams. The property features a fully-occupied self-storage business alongside leased commercial and retail spaces. It offers 12,700 square feet of climate-controlled self storage and 23,743 square feet of retail space. The current ownership is expanding the self storage units by an additional 480 square feet, expected to be completed by December 2024. The six retail tenants, all on long-term leases, generate over $20,000 in monthly income.
Additionally, the large parking lot provides potential for expansion or subdivision for further development. The property is also equipped with solar panels, which cover 7% of the electric utilities until June 30, 2040, with the option for lease extension. A loading door at the back of the storage space is available for tenant use. Seller would consider offers including 1 Acre outlot at $3.7 Million.
Area CRE Services is licensed under Keller Williams Realty Integrity Lakes
Westrock Storage & Shopping Center presents an excellent opportunity to acquire a stabilized investment property with diverse income streams. The property features a fully-occupied self-storage business alongside leased commercial and retail spaces. It offers 12,700 square feet of climate-controlled self storage and 23,743 square feet of retail space. The current ownership is expanding the self storage units by an additional 480 square feet, expected to be completed by December 2024. The six retail tenants, all on long-term leases, generate over $20,000 in monthly income.
Additionally, the large parking lot provides potential for expansion or subdivision for further development. The property is also equipped with solar panels, which cover 7% of the electric utilities until June 30, 2040, with the option for lease extension. A loading door at the back of the storage space is available for tenant use. Seller would consider offers including 1 Acre outlot at $3.7 Million.
Area CRE Services is licensed under Keller Williams Realty Integrity Lakes
PROPERTY FACTS
| Price | $3,200,000 |
| Price Per SF | $65 |
| Sale Type | Investment |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | B |
| Lot Size | 5.50 AC |
| Building Size | 49,091 SF |
| No. Stories | 1 |
| Year Built | 1975 |
| Parking Ratio | 6.86/1,000 SF |
AMENITIES
- Air Conditioning
1 of 1
PROPERTY TAXES
| Parcel Number | 113-059-001010 | Improvements Assessment | $886,800 |
| Land Assessment | $1,230,200 | Total Assessment | $2,117,000 |
ZONING
| Zoning Code | C-3 (Commercial) |
CONTACTS
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Tom
Flannigan
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Amy
Hitchingham
