1145 Viking E Dr Maplewood, MN 55109

Exceptional investment opportunity: a 6,764 square foot, fully occupied auto shop in Maplewood, Minnesota. This stabilized property boasts a 6.90% cap rate and a strong, credit-rated national tenant, DriveTime, under a Net Net lease. The building, constructed in 1964 and extensively renovated in 2021, sits on a 1.19-acre lot with ample parking (107 spaces). The property enjoys prime visibility, situated along major thoroughfares, providing convenient access to amenities and high traffic volume. The M-1 zoning allows for continued automotive use. The current lease has over two years remaining, with four and five-year renewal options, featuring a 2% rent bump over the initial term and a 10% increase for each subsequent option. The asking price is $1,900,000, translating to $280.90 per square foot and a substantial net operating income (NOI) of $131,088. This single-story building presents a rare opportunity to acquire a high-performing asset in a thriving automotive retail corridor. The property's recent renovations and long-term lease with a creditworthy tenant ensure a secure and profitable investment. Don't miss this chance to own a piece of Maplewood's automotive landscape.