3100 W Bridge St, Owatonna, MN

Industrial for Sale - $8,581,000 - 156,500 Sq. Ft. on 8.59 acres


Agent Info

Michael Houge
NAI Legacy

Property Info

CIMLS#1150056
Location
  3100 W Bridge St
  Owatonna MN 55060
UpdatedOctober 16th, 2023
TypeIndustrial
Price$8,581,000
Building156,500 Sq. Ft.
Land8.59 acres

Attached Documents


Property Description

We are excited to present a fully leased, single-tenant warehouse/distribution center spanning over 156,500 square feet. The property is currently leased by Viracon and is guaranteed by Apogee Enterprises, a top-notch provider of architectural products and services for enclosing buildings. Apogee is renowned for its high-performance glass and acrylic products used for preservation, protection, and enhanced viewing. The lease on this property has 7+ years remaining.


Financials

Absolute NNN Lease

5.93% Cap Rate

Year 1 NOI: $508,861.52

3.00% Rental Increases Commencing March 2024

Guaranteed by Apogee Enterprises, Inc. (NASDAQ: APOG)

± 6,350 SF Office

± 150,150 SF Warehouse