940 Mckinley Pkwy Delano, MN 55328
- Warehouses
- 1,120 SF
Current Use by Public Records
- Warehouses
Property Details for 940 Mckinley Pkwy
- Year built
- 2023
- Property size
- 1,120 SF
- Property type
- Warehouses
- Property subtype
- Retail properties
Description
This 1,120-square-foot warehouse unit, located at 940 McKinley Pkwy in Delano, Minnesota, presents a prime investment opportunity. Built and renovated in 2023, this vacant unit is part of a four-building, 42-unit complex. The property features 20-foot ceilings, 14 dock-high doors, and 5" concrete floors with floor drains. High-quality construction includes commercial-grade windows and doors, attractive LP Smartside siding, and fire suppression. The unit is wired for three-phase power and plumbed for water and sewer, with a roughed-in bathroom. A mezzanine level can be added, increasing the space to 1,568 square feet. The unit is zoned for commercial use and offers flexibility for various purposes, including office/warehouse, workshop, showroom, or even a personal garage. Upgrades are available, allowing for customization to meet specific needs. Financing options include a 10-year fixed-rate loan at 8.75% or a 5-year balloon with 20-year amortization at 8.5%, as of December 1, 2023. All financing closes at Title Mark in Waconia. For financing, a personal financial statement, two years of personal and business tax returns, and a credit report are required. A 20% cash down payment or more is required on the purchase price, including upgrades. The purchase can be made through a real estate holding company with a personal guarantee from the buyer.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Delano
- County
- Wright
- State
- Minnesota
- Longitude
- -93.8115
- Latitude
- 45.0521
