Acquired as part of a portfolio, this 276,083 SF multi-tenant industrial property in Little Falls, MN was purchased for $4.5MM—$1.7MM below appraised value—at an attractive 14% cap rate. Currently 94.5% leased, the property generates $618K in-place NOI. It features minimal office finish (<10%), 6 dock doors, 4 drive-ins, and clear heights ranging from 14’ to 23’.
During due diligence, two existing tenants expressed interest in expanding their footprints by up to 20,000 SF each. Additionally, a regional utility company has shown interest in leasing several acres as a laydown yard—representing future upside not yet included in the current NOI.
This asset presents stable cash flow today with substantial near-term upside through leasing expansion and land activation.
