2507 Fremont

2507 Fremont Ave. N.
Minneapolis, MN 55411

Sale Price: $2,898,000
Cap Rate: 8.0%
NOI: $231,836
Lot Size: 0.36
Building Size: 17,820 SF

Download the Brochure:

Contact the Broker

kevinpeck@suntide.com  612.834.2250

Property Overview:
2507 Fremont Avenue North is home to the Minnesota Internship Center, a public charter high school for young people who are looking for a more supportive environment (source: MNIC website). MNIC has called the property home for over 13 years. This is an opportunity to accrue the benefits of a long term income stream and strong tenancy in an up and coming submarket with pricing substantially below replacement cost.

Property Highlights

  • NOI projected at $231,836 in 2021.
  • 3.0% annual rent increases.
  • Lease terms runs to 6/30/2027.
  • Major renovation in 2008. Regular updates throughout lease term.
  • Tenant operates out of 4 Minneapolis-St Paul locations and has been in business since 2003.
  • Priced well below replacement cost.
  • Stable tenant operating at this location since 2008.

 

2507 Fremont

2507 Fremont Ave. N.
Minneapolis, MN 55411

Sale Price: $2,898,000
Cap Rate: 8.0%
NOI: $231,836
Lot Size: 0.36
Building Size: 17,820 SF

Property Overview:
2507 Fremont Avenue North is home to the Minnesota Internship Center, a public charter high school for young people who are looking for a more supportive environment (source: MNIC website). MNIC has called the property home for over 13 years. This is an opportunity to accrue the benefits of a long term income stream and strong tenancy in an up and coming submarket with pricing substantially below replacement cost.

Download the Brochure:

Property Overview:
2507 Fremont Avenue North is home to the Minnesota Internship Center, a public charter high school for young people who are looking for a more supportive environment (source: MNIC website). MNIC has called the property home for over 13 years. This is an opportunity to accrue the benefits of a long term income stream and strong tenancy in an up and coming submarket with pricing substantially below replacement cost.

Property Highlights

  • NOI projected at $231,836 in 2021.
  • 3.0% annual rent increases.
  • Lease terms runs to 6/30/2027.
  • Major renovation in 2008. Regular updates throughout lease term.
  • Tenant operates out of 4 Minneapolis-St Paul locations and has been in business since 2003.
  • Priced well below replacement cost.
  • Stable tenant operating at this location since 2008.

Contact the Broker
kevinpeck@suntide.com
612.834.2250