1400 2Nd St Waseca, MN 56093
- Commercial real estate
- 54,497 SF
Current Use by Public Records
- Commercial real estate
Property Details for 1400 2Nd St
- Year built
- 1969
- Property size
- 54,497 SF
- Property type
- Commercial real estate
- APN
- 17.227.0010
- APU
- 172270010
Description
This exceptional 54,962-square-foot industrial facility, situated on a 4.22-acre lot in Waseca, Minnesota, presents a compelling investment opportunity. Located within the city's industrial park at 1400 2nd Street SE, 56093, this single-tenant, NNN-leased property boasts numerous desirable features. The building offers a substantial 13 grade-level doors (three oversized), providing ample access for loading and unloading. Inside, discover a clear height reaching up to 22 feet in certain areas, complemented by 17 built-in cranes (with capacities ranging from 2 to 10 tons) and overhead doors with 16-foot clearances. The property includes a fully functional paint room equipped with exhaust fans, a large cold storage area, private offices, a dock, and 480-phase power. Practical features such as floor drains and restrooms are also included, and the entire building is equipped with a sprinkler system. Heating is provided by forced gas heat and air in the office area and radiant heat in the industrial space. Extensive parking is available, accommodating up to 40 vehicles, and the property benefits from convenient access to Highway 13, US Highway 14, and proximity to Interstate 35 (13 miles away), a major distribution route in Minnesota. The strategic location between Mankato and Owatonna further enhances its appeal. Immediate possession is available. This property is ideally suited for a variety of industrial and light manufacturing uses.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $755,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $980,000
- 6.5%
- $920,000
- 7%
- $1,055,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,020,000
- Geo Method
- $1,155,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,155,000
- Retail
- $990,000
- Mixed-Use
- $895,000
- Hospitality
- $1,000,000
- Educational
- $1,055,000
- Residential Income
- $995,000
- Energy
- $995,000
- Income-Based Land
- $1,165,000
- Food Service
- $985,000
Location Insight
- Map
- Local Demand
- City
- Waseca
- County
- Waseca
- State
- Minnesota
- Longitude
- -93.5051
- Latitude
- 44.0645