1733 Service Drive, Winona, MN
Retail for Sale - $1,707,495 - 31,840 Sq. Ft. on 3 acres
Property Info
CIMLS# | 1023596 |
Location 1733 Service Drive Winona MN 55987 | |
Updated | July 3rd, 2019 |
Type | Retail |
Price | $1,707,495 |
Building | 31,840 Sq. Ft. |
Land | 3 acres |
Property Description
Wakota Commercial Advisors in conjunction with Marcus & Millichap is pleased to exclusively present for your acquisition review Winona Crossings. Located in an Opportunity Zone, this shopping center comprised of 1 building totaling 31,840 square feet in Winona, Minnesota.
The center is positioned at the intersection of US-61 & US-14 with great visibility, and tenancy. Winona Crossings is currently 100 percent occupied. The tenant base consists of a complimentary mix of local tenants (Discount Liquor, China King Buffet, Riverway Charter School) that provides consumers with a wide range of products and services including restaurants, discount goods, and much more. Along with the Winona Crossings, additional retail traffic drivers within the area include Kwik Trip, Ground Round, Days Inn, Fastenal, Wells Fargo, AutoZone, & Shopko.
The Winona Crossings benefits from its strategic location off of US-61 & US-14, the two main roads running through town. Winona has a population of 26,928 and is located in South East Minnesota 108 miles South East of Minneapolis/St. Paul, Minnesota and straight East of Rochester, MN 54 miles.
This Center offers an incoming investor the opportunity to acquire a stabilized shopping center with upside opportunity in raising rents to meet market standards in a great area with limited competition.
Financials
Scheduled Gross Income: $218,230
Tax Reimbursement: $24,841
Insurance Reimbursement: $3,438
CAM Reimbursement: $20,673
Admin. Reimbursement: $4,765
Total Income: $271,947
Vacancy Factor: $13,597 5.00%
Gross Operating Income: $258,350
Less Expenses: $101,698
Net Operating Income: $156,652 9.17%
Capital Reserves: $6,368 ($.20)
Loan Payments: $94,657
Pre Tax Cash Flow: $55,267 10.86%
Plus Principal Reduction: $35,706
Total Return Before Taxes: $91,332 17.83%