3100 W Bridge St, Owatonna, MN
Industrial for Sale - $8,581,000 - 156,500 Sq. Ft. on 8.59 acres
Property Info
| CIMLS# | 1150056 |
| Location 3100 W Bridge St Owatonna MN 55060 | |
| Updated | October 16th, 2023 |
| Type | Industrial |
| Price | $8,581,000 |
| Building | 156,500 Sq. Ft. |
| Land | 8.59 acres |
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