Sold for $2,800,000 at a 9.43% Cap Rate! 8 Unit (~20,000 Square Feet) Retail Strip Center 100% Occupied at 3140 Century Ave, Mahtomedi, MN.
Retail investment property that is currently a 100% occupied Shopping Center located in Mahtomedi, MN. The 19,817 square foot freestanding building was built in 1977 and later renovated in 1990. The current owner has made some recent improvements to the center including some roof, façade, and parking lot repairs. This property sits on approximately one acre of land on the Northeast corner of a signalized intersection in Mahtomedi, MN. This center offers a great mix of tenants in which 7 of 8 leases are triple-net leases, with the remaining tenant under a double-net lease. According to the MN DOT, daily traffic counts are over 30k vehicles per day in each direction of this property. Located just North of a busy Highway 694 and Century Rd exit, the property is highly visible to traffic entering and leaving nearby residential areas and Century College East Campus.
Mahtomedi is a City in Washington County, in the State of Minnesota. Located approximately 20 miles from downtown Minneapolis, Mahtomedi is considered to be a suburb of North St. Paul.
Marketed & Represented with Jeremy Osting.