31265 County 24 Blvd Cannon Falls, MN 55009

Property Details for 31265 County 24 Blvd

Lot size

19.06 lot acres

Property size

46,636 SF

Property type

Warehouses

Property subtype

Lifestyle centers

Description

This exceptional investment opportunity presents Cannon Mall, a thriving multi-tenant retail and storage center in Cannon Falls, Minnesota. The property boasts a total of 46,636 square feet, encompassing a 13.31-acre developed site and an additional 5.75 acres of undeveloped land, offering significant expansion potential. Currently operating at 100% occupancy, the property generates a strong net operating income (NOI) of $83,000, resulting in an attractive 4.20% cap rate. The asking price is $1,975,000. The property comprises four buildings, all single-story structures, strategically located off Highway 52 at the intersection of 4th Street South and 64th Avenue Path, ensuring high visibility and easy accessibility. This hybrid retail/storage center is situated in a growing community along the major highway connecting the Twin Cities and Rochester, providing a robust and expanding market. The property's parcel number (APN) is 52-719-3000. This is a rare opportunity to acquire a well-established, high-performing commercial property with significant upside potential in a desirable location. The property includes a 46,636 square foot enclosed mall and three mini-storage buildings. This investment offers a compelling blend of immediate income and future development possibilities. The property is located in Goodhue County, Minnesota, with a zip code of 55009.

Location Insight

City

Cannon Falls

County

Goodhue

State

Minnesota

Longitude

-92.9058

Latitude

44.4963